ECARX (NASDAQ:ECX) Trading Down 9.2% - Should You Sell?

Key Points

• ECARX Holdings, Inc. shares saw a significant decline of 9.2%, closing at $1.54 after trading as low as $1.55.
• The company reported a loss of $0.08 earnings per share, falling short of analysts' expectations of $0.05, despite revenues exceeding estimates at $168.40 million.
• Institutional investors have increased their stakes, with Northern Trust Corp boosting its investment by 103.8% in the fourth quarter.

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report)'s stock price fell 9.2% on Friday . The stock traded as low as $1.55 and last traded at $1.54. 987,327 shares traded hands during trading, a decline of 77% from the average session volume of 4,278,389 shares. The stock had previously closed at $1.69.

ECARX Trading Down 0.3%

The stock has a market capitalization of $598.73 million, a PE ratio of -4.61 and a beta of 0.66. The firm's fifty day moving average price is $1.77 and its two-hundred day moving average price is $1.76.

Institutional Investors Weigh In On ECARX

A number of institutional investors have recently added to or reduced their stakes in ECX. Renaissance Technologies LLC acquired a new stake in ECARX in the 4th quarter valued at $630,000. Barclays PLC acquired a new stake in ECARX in the 4th quarter valued at $348,000. XTX Topco Ltd acquired a new stake in ECARX in the 4th quarter valued at $52,000. Marshall Wace LLP acquired a new stake in ECARX in the 4th quarter valued at $245,000. Finally, Tower Research Capital LLC TRC acquired a new stake in ECARX in the 4th quarter valued at $32,000.

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.