ECARX (NASDAQ:ECX) Issues Earnings Results

ECARX (NASDAQ:ECX) announced its quarterly earnings data on Tuesday. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02), FiscalAI reports. The business had revenue of $131.50 million for the quarter, compared to analyst estimates of $204.66 million.

ECARX Price Performance

ECX opened at $1.03 on Tuesday. The business’s 50-day moving average is $1.12 and its two-hundred day moving average is $1.59. ECARX has a 1 year low of $0.88 and a 1 year high of $2.70. The firm has a market capitalization of $367.16 million, a PE ratio of -5.15 and a beta of 0.98.

Wall Street Analyst Weigh In

ECX has been the subject of several research analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research report on Monday, April 20th. Zacks Research upgraded ECARX from a “strong sell” rating to a “hold” rating in a report 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 MarketBeat.com, the stock currently has a consensus rating of “Reduce”.

Institutional Investors Weigh In On ECARX

Large investors have recently modified their holdings of the business. Hsbc Holdings PLC purchased a new stake in shares of ECARX during the fourth quarter worth about $99,000. Tudor Investment Corp ET AL grew its stake in shares of ECARX by 66.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 2,134,089 shares of the company’s stock worth $3,671,000 after acquiring an additional 854,139 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of ECARX by 56.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,842,100 shares of the company’s stock worth $3,168,000 after acquiring an additional 667,800 shares during the last quarter. Legal & General Group Plc grew its stake in shares of ECARX by 1.4% during the third quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock worth $2,317,000 after acquiring an additional 16,420 shares during the last quarter. Finally, UBS Group AG boosted its position in ECARX by 13.1% in the third quarter. UBS Group AG now owns 950,930 shares of the company’s stock valued at $1,911,000 after buying an additional 110,243 shares during the last quarter.

ECARX Company Profile

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).