ECARX (NASDAQ:ECX) Cut to "Sell" at Wall Street Zen

Key Points

• ECARX has been downgraded by Wall Street Zen from a "hold" rating to a "sell" rating, reflecting concerns about the company's performance.
• The company reported a significant earnings miss with a quarterly loss of ($0.13) EPS and revenue of $155.30 million, falling short of expectations of $223.92 million.
• Institutional investment activity includes purchases by firms like Goldman Sachs, which increased its stake in ECARX by 43.3% recently.

Wall Street Zen lowered shares of ECARX (NASDAQ:ECX - Free Report) from a hold rating to a sell rating in a research note published on Saturday morning.

ECARX Stock Performance

NASDAQ:ECX traded down $0.02 during mid-day trading on Friday, reaching $1.53. The stock had a trading volume of 1,226,970 shares, compared to its average volume of 2,863,182. The stock has a market capitalization of $567.22 million, a P/E ratio of -4.25 and a beta of 0.66. The firm has a 50 day moving average price of $1.73 and a two-hundred day moving average price of $1.72. ECARX has a one year low of $0.76 and a one year high of $3.25.

ECARX (NASDAQ:ECX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 26th. The company reported ($0.13) EPS for the quarter. The business had revenue of $155.30 million for the quarter, compared to analysts' expectations of $223.92 million. Research analysts forecast that ECARX will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On ECARX

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Two Sigma Securities LLC purchased a new position in ECARX in the 4th quarter worth approximately $30,000. Tower Research Capital LLC TRC bought a new position in ECARX during the 4th quarter valued at approximately $32,000. Citadel Advisors LLC purchased a new stake in ECARX in the 4th quarter worth approximately $68,000. Tower Research Capital LLC TRC purchased a new stake in ECARX in the 2nd quarter worth approximately $71,000. Finally, Goldman Sachs Group Inc. grew its position 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 worth $94,000 after buying an additional 22,498 shares during the last quarter.

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.