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ECARX (NASDAQ:ECX) Raised to "Hold" at Wall Street Zen

ECARX logo with Business Services background

Key Points

  • ECARX has been upgraded from a "sell" rating to a "hold" rating by Wall Street Zen, indicating a more favorable outlook for the stock.
  • The stock opened at $1.55 with a market cap of approximately $574.63 million and has seen significant fluctuations over the past year.
  • Institutional investors have increased their stakes in ECARX, with notable acquisitions from firms like Mitsubishi UFJ Asset Management and Goldman Sachs Group, enhancing confidence in the company's potential.
  • Need Better Tools to Track ECARX? Try 5 Weeks of MarketBeat All Access for $5. Start Portfolio Tracking Now.

ECARX (NASDAQ:ECX - Get Free Report) was upgraded by Wall Street Zen from a "sell" rating to a "hold" rating in a report issued on Saturday.

ECARX Stock Performance

Shares of ECX stock opened at $1.55 on Friday. The stock has a fifty day moving average price of $1.77 and a 200 day moving average price of $1.75. The stock has a market cap of $574.63 million, a PE ratio of -4.43 and a beta of 0.66. ECARX has a 1 year low of $0.76 and a 1 year high of $3.25.

Hedge Funds Weigh In On ECARX

A number of institutional investors have recently made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of ECARX in the second quarter worth $1,722,000. Goldman Sachs Group Inc. raised its holdings in shares of ECARX by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company's stock worth $94,000 after acquiring an additional 22,498 shares during the last quarter. Jane Street Group LLC raised its holdings in shares of ECARX by 234.4% in the first quarter. Jane Street Group LLC now owns 576,490 shares of the company's stock worth $726,000 after acquiring an additional 404,119 shares during the last quarter. Hhlr Advisors LTD. acquired a new position in shares of ECARX in the first quarter worth $504,000. Finally, Cubist Systematic Strategies LLC acquired a new position in shares of ECARX in the first quarter worth $213,000.

About ECARX

(Get Free Report)

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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