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ECARX (NASDAQ:ECX) Shares Up 5.3% - Here's What Happened

ECARX logo with Business Services background

Key Points

  • ECARX Holdings shares increased by 5.3% during mid-day trading, with the stock last trading at $2.27 after closing at $2.15.
  • Analysts have mixed views on the stock, with Wall Street Zen downgrading it to a sell rating and a consensus rating of "Hold" from different firms.
  • ECARX reported a loss of ($0.13) earnings per share in its most recent earnings report, with revenue falling short of analyst expectations.
  • MarketBeat previews the top five stocks to own by November 1st.

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) shares shot up 5.3% during mid-day trading on Thursday . The stock traded as high as $2.28 and last traded at $2.27. 3,165,994 shares changed hands during trading, a decline of 17% from the average session volume of 3,796,058 shares. The stock had previously closed at $2.15.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the company. Wall Street Zen lowered ECARX from a "hold" rating to a "sell" rating in a research note on Saturday, August 30th. Weiss Ratings reissued a "sell (e+)" rating on shares of ECARX in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $3.20.

View Our Latest Stock Analysis on ECX

ECARX Price Performance

The company has a market cap of $837.85 million, a price-to-earnings ratio of -6.28 and a beta of 0.71. The stock has a 50-day moving average price of $1.85 and a 200 day moving average price of $1.64.

ECARX (NASDAQ:ECX - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $155.30 million during the quarter, compared to analyst estimates of $223.92 million. Sell-side analysts expect that ECARX Holdings, Inc. will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in ECX. Tower Research Capital LLC TRC bought a new position in shares of ECARX during the 2nd quarter worth approximately $71,000. Goldman Sachs Group Inc. lifted its holdings in ECARX by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company's stock worth $94,000 after purchasing an additional 22,498 shares during the last quarter. XTX Topco Ltd lifted its holdings in ECARX by 329.8% during the 1st quarter. XTX Topco Ltd now owns 105,342 shares of the company's stock worth $133,000 after purchasing an additional 80,833 shares during the last quarter. MYDA Advisors LLC acquired a new stake in ECARX during the 1st quarter worth approximately $164,000. Finally, State of Wyoming acquired a new stake in ECARX during the 2nd quarter worth approximately $167,000.

ECARX Company Profile

(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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