ECARX (NASDAQ:ECX) Announces Quarterly Earnings Results

Key Points

• ECARX reported a quarterly loss of ($0.13) EPS, indicating ongoing challenges in profitability.
• Institutional investors have been actively adjusting their positions, with Goldman Sachs increasing its stake by 43.3% and several new investors entering during the second quarter.
• Analysts have raised the stock's rating from "sell" to "hold," reflecting a more optimistic outlook with a consensus price target of $3.20.

ECARX (NASDAQ:ECX - Get Free Report) posted its earnings results on Tuesday. The company reported ($0.13) EPS for the quarter, Zacks reports.

ECARX Stock Performance

Shares of NASDAQ:ECX opened at $1.69 on Tuesday. The company has a market cap of $626.53 million, a P/E ratio of -4.83 and a beta of 0.66. The stock's 50-day moving average is $1.77 and its 200-day moving average is $1.74. ECARX has a 52-week low of $0.7575 and a 52-week high of $3.25.

Institutional Investors Weigh In On ECARX

A number of institutional investors have recently added to or reduced their stakes in ECX. Tower Research Capital LLC TRC acquired a new stake in ECARX during the second quarter worth about $71,000. Goldman Sachs Group Inc. grew its position in ECARX by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company's stock worth $94,000 after buying an additional 22,498 shares in the last quarter. State of Wyoming acquired a new stake in ECARX during the second quarter worth about $167,000. Cubist Systematic Strategies LLC acquired a new stake in ECARX during the first quarter worth about $213,000. Finally, Invesco Ltd. boosted its holdings in ECARX by 5.8% during the second quarter. Invesco Ltd. now owns 253,689 shares of the company's stock valued at $520,000 after purchasing an additional 13,859 shares in the last quarter.

Analyst Ratings Changes

Separately, Wall Street Zen raised shares of ECARX from a "sell" rating to a "hold" rating in a research report on Saturday, August 9th. One analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the company has a consensus rating of "Buy" and an average price target of $3.20.

ECARX Company Profile

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.

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