ECARX (NASDAQ:ECX) Stock Rating Upgraded by Zacks Research

ECARX (NASDAQ:ECX) was upgraded by research analysts at Zacks Research from a “strong sell” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, ECARX presently has a consensus rating of “Reduce”.

ECARX Stock Up 1.8%

ECX opened at $1.15 on Tuesday. The business has a 50 day moving average price of $1.34 and a two-hundred day moving average price of $1.76. The company has a market cap of $409.94 million, a PE ratio of -5.75 and a beta of 0.96. ECARX has a 52 week low of $0.84 and a 52 week high of $2.70.

ECARX (NASDAQ:ECX) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.01 EPS for the quarter, beating the consensus estimate of ($0.03) by $0.04. The company had revenue of $301.06 million for the quarter, compared to analysts’ expectations of $311.90 million. As a group, sell-side analysts expect that ECARX will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On ECARX

A number of large investors have recently modified their holdings of the business. Cubist Systematic Strategies LLC acquired a new stake in shares of ECARX in the 1st quarter valued at approximately $213,000. Goldman Sachs Group Inc. lifted its holdings in shares of ECARX by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after buying an additional 22,498 shares during the period. Jane Street Group LLC lifted its holdings in shares of ECARX by 234.4% in the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock valued at $726,000 after buying an additional 404,119 shares during the period. Invesco Ltd. lifted its holdings in shares of ECARX by 5.8% in the 2nd quarter. Invesco Ltd. now owns 253,689 shares of the company’s stock valued at $520,000 after buying an additional 13,859 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new stake in shares of ECARX in the 2nd quarter valued at approximately $71,000.

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).