ECARX (NASDAQ:ECX) Shares Down 6.4% - Should You Sell?

Key Points

• ECARX Holdings, Inc. shares dropped 6.4% to $1.99, with trading volume falling significantly by 94% compared to its average session volume.
• Analyst ratings for ECARX have worsened, with Wall Street Zen downgrading the stock from "hold" to "sell," despite one analyst maintaining a Buy rating.
• In its latest earnings report, ECARX posted a loss of ($0.13) EPS and reported revenue of $155.30 million, missing expectations of $223.92 million.

Shares of ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) fell 6.4% during trading on Tuesday . The stock traded as low as $1.98 and last traded at $1.99. 232,736 shares changed hands during trading, a decline of 94% from the average session volume of 3,915,771 shares. The stock had previously closed at $2.12.

Wall Street Analyst Weigh In

Separately, Wall Street Zen cut shares of ECARX from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. One research analyst has rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of "Buy" and a consensus price target of $3.20.

ECARX Stock Down 10.6%

The firm's 50 day simple moving average is $1.71 and its 200 day simple moving average is $1.66. The company has a market cap of $702.53 million, a price-to-earnings ratio of -5.29 and a beta of 0.66.

ECARX (NASDAQ:ECX - Get Free Report) last announced 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 the consensus estimate of $223.92 million. Analysts anticipate that ECARX Holdings, Inc. will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ECX. Deutsche Bank AG acquired a new position in ECARX in the first quarter worth approximately $3,722,000. Valliance Asset Management Ltd acquired a new position in ECARX in the first quarter worth approximately $2,252,000. Infini Capital Management Ltd purchased a new position in ECARX during the 1st quarter worth approximately $2,005,000. Legal & General Group Plc purchased a new position in ECARX during the 2nd quarter worth approximately $2,341,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in ECARX during the 2nd quarter worth approximately $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.

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