ECARX (NASDAQ:ECX) Shares Down 1% – What’s Next?

ECARX Holdings, Inc. (NASDAQ:ECX)’s stock price was down 1% on Friday . The stock traded as low as $0.9801 and last traded at $0.9999. 234,619 shares traded hands during mid-day trading, a decline of 70% from the average session volume of 794,239 shares. The stock had previously closed at $1.01.

Wall Street Analysts Forecast Growth

ECX has been the subject of several research reports. Weiss Ratings restated a “sell (e+)” rating on shares of ECARX in a report on Friday, July 17th. Zacks Research raised shares of ECARX from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

ECARX Trading Down 1.0%

The company has a market cap of $356.43 million, a PE ratio of -6.67 and a beta of 0.98. The stock has a 50 day moving average price of $1.15 and a 200 day moving average price of $1.34.

ECARX (NASDAQ:ECX) last issued its quarterly earnings results 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 during the quarter, compared to the consensus estimate of $204.66 million. Equities analysts expect that ECARX Holdings, Inc. will post -0.04 EPS for the current fiscal year.

Institutional Trading of ECARX

A number of hedge funds and other institutional investors have recently modified their holdings of ECX. Themes Management Co LLC increased its stake in shares of ECARX by 44.9% in the 1st quarter. Themes Management Co LLC now owns 102,625 shares of the company’s stock worth $100,000 after acquiring an additional 31,801 shares in the last quarter. Renaissance Technologies LLC boosted its stake in ECARX by 9.4% during the first quarter. Renaissance Technologies LLC now owns 2,015,600 shares of the company’s stock worth $1,971,000 after acquiring an additional 173,500 shares in the last quarter. State of Wyoming boosted its stake in ECARX by 621.4% during the first quarter. State of Wyoming now owns 51,897 shares of the company’s stock worth $51,000 after acquiring an additional 44,703 shares in the last quarter. Hsbc Holdings PLC bought a new stake in ECARX during the fourth quarter worth about $99,000. Finally, Caitong International Asset Management Co. Ltd purchased a new stake in ECARX in the fourth quarter worth about $175,000.

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).