Wall Street Zen Downgrades ECARX (NASDAQ:ECX) to Sell

ECARX (NASDAQ:ECX) was downgraded by research analysts at Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

ECARX Trading Up 2.5%

NASDAQ:ECX opened at $1.62 on Friday. The firm has a 50-day moving average price of $1.75 and a two-hundred day moving average price of $1.73. ECARX has a twelve month low of $0.76 and a twelve month high of $3.25. The company has a market capitalization of $600.58 million, a P/E ratio of -4.50 and a beta of 0.66.

ECARX (NASDAQ:ECX) last posted its earnings results on Tuesday, August 26th. The company reported ($0.13) earnings per share for the quarter. The business had revenue of $155.30 million for the quarter, compared to analysts’ expectations of $223.92 million. On average, equities research analysts predict that ECARX will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On ECARX

Several hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG purchased a new position in ECARX during the 1st quarter valued at about $3,722,000. Valliance Asset Management Ltd acquired a new stake in shares of ECARX during the 1st quarter worth about $2,252,000. Infini Capital Management Ltd acquired a new stake in shares of ECARX during the 1st quarter worth about $2,005,000. Legal & General Group Plc acquired a new stake in shares of ECARX during the 2nd quarter worth about $2,341,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in shares of ECARX during the 2nd quarter worth about $1,722,000.

About ECARX

ECARX Holdings Inc develops a full stack automotive computing platform to shape the interaction between people and cars by rapidly advancing the technology by smart mobility worldwide. It offers system on chips, central computing platforms, operating systems, and software. Its core products include infotainment head units, digital cockpits, vehicle chip-set solutions, core operating system, and integrated software stack.