ECARX (NASDAQ:ECX) Stock Price Down 0.8% – What’s Next?

ECARX Holdings, Inc. (NASDAQ:ECX) shares were down 0.8% during mid-day trading on Wednesday . The company traded as low as $1.25 and last traded at $1.28. 930,810 shares were traded during mid-day trading, a decline of 70% from the average daily volume of 3,098,029 shares. The stock had previously closed at $1.29.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on ECX shares. Zacks Research upgraded shares of ECARX from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Weiss Ratings reiterated 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 assigned a Sell rating to the company. According to data from MarketBeat, ECARX has a consensus rating of “Reduce”.

ECARX Trading Down 0.8%

The firm has a market cap of $456.28 million, a P/E ratio of -8.53 and a beta of 0.98. The company’s fifty day moving average price is $1.14 and its two-hundred day moving average price is $1.40.

ECARX (NASDAQ:ECX) last issued its quarterly earnings results on Tuesday, May 19th. The company reported ($0.03) earnings per share (EPS) 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. On average, analysts predict that ECARX Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of ECARX

Hedge funds have recently modified their holdings of the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of ECARX during the fourth quarter worth $47,000. Millennium Management LLC bought a new stake in shares of ECARX in the 4th quarter valued at $48,000. State of Wyoming raised its stake in ECARX by 621.4% during the 1st quarter. State of Wyoming now owns 51,897 shares of the company’s stock worth $51,000 after buying an additional 44,703 shares during the period. Integrated Wealth Concepts LLC acquired a new stake in ECARX during the 3rd quarter worth $51,000. 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).