ECARX (NASDAQ:ECX) Trading Down 1.6% – Time to Sell?

Shares of ECARX Holdings, Inc. (NASDAQ:ECX) were down 1.6% during mid-day trading on Tuesday . The company traded as low as $1.20 and last traded at $1.24. Approximately 945,022 shares traded hands during mid-day trading, a decline of 28% from the average daily volume of 1,306,944 shares. The stock had previously closed at $1.26.

Wall Street Analysts Forecast Growth

A number of analysts have commented on ECX shares. Zacks Research raised shares of ECARX from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a research note on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Reduce”.

ECARX Stock Performance

The company has a market capitalization of $442.02 million, a price-to-earnings ratio of -8.27 and a beta of 1.00. The company has a 50-day moving average price of $1.12 and a 200-day moving average price of $1.47.

ECARX (NASDAQ:ECX) last released its quarterly earnings data on Tuesday, May 19th. The company reported ($0.03) earnings per share for the quarter, missing the consensus estimate of ($0.01) by ($0.02). The company had revenue of $131.50 million for the quarter, compared to analyst estimates of $204.66 million. As a group, sell-side analysts anticipate that ECARX Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ECARX

A number of hedge funds and other institutional investors have recently made changes to their positions in ECX. Integrated Wealth Concepts LLC acquired a new position in shares of ECARX in the 3rd quarter valued at $51,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in shares of ECARX in the 4th quarter valued at $47,000. Millennium Management LLC acquired a new stake in ECARX during the 4th quarter worth $48,000. Squarepoint Ops LLC acquired a new stake in ECARX during the 3rd quarter worth $59,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in ECARX during the fourth quarter worth about $58,000.

About ECARX

ECARX is a global automotive technology company focused on developing and delivering smart cockpit solutions for original equipment manufacturers (OEMs). The company designs and manufactures a range of in-vehicle computing platforms, central processing units, digital instrument clusters and multimedia infotainment systems. ECARX’s core offerings integrate software, hardware and cloud connectivity to create seamless user experiences for drivers and passengers.

The company’s product portfolio spans telematics control units, over-the-air update frameworks and next-generation human-machine interfaces (HMI).