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ECARX (NASDAQ:ECX) Stock Price Up 7.8% - Should You Buy?

ECARX logo with Business Services background

Key Points

  • ECARX Holdings, Inc. stock price increased by 7.8% during mid-day trading, reaching $2.28 after closing at $2.11.
  • Recent analyst ratings show mixed reviews, with one analyst upgrading the stock to a Buy while another downgraded it to a Sell, resulting in an average rating of Hold.
  • The company reported a quarterly revenue of $155.30 million, significantly below analysts' expectations of $223.92 million.
  • Five stocks we like better than ECARX.

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report)'s share price rose 7.8% during mid-day trading on Wednesday . The stock traded as high as $2.22 and last traded at $2.28. Approximately 89,245 shares traded hands during mid-day trading, a decline of 98% from the average daily volume of 3,824,600 shares. The stock had previously closed at $2.11.

Analyst Upgrades and Downgrades

ECX has been the topic of several recent analyst reports. Wall Street Zen cut shares of ECARX from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. Weiss Ratings restated a "sell (e+)" rating on shares of ECARX in a report on Wednesday. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average target price of $3.20.

Read Our Latest Analysis on ECARX

ECARX Stock Up 8.3%

The firm has a market cap of $847.12 million, a P/E ratio of -6.35 and a beta of 0.71. The firm's fifty day moving average is $1.78 and its two-hundred day moving average is $1.65.

ECARX (NASDAQ:ECX - Get Free Report) last announced its earnings results on Tuesday, August 26th. The company reported ($0.13) EPS for the quarter. The firm had revenue of $155.30 million for the quarter, compared to analysts' expectations of $223.92 million. As a group, sell-side analysts forecast that ECARX Holdings, Inc. will post -0.42 EPS for the current year.

Institutional Trading of ECARX

A number of hedge funds have recently modified their holdings of ECX. Citadel Advisors LLC bought a new stake in shares of ECARX during the 4th quarter valued at $68,000. Tower Research Capital LLC TRC bought a new stake in shares of ECARX during the 2nd quarter valued at $71,000. Goldman Sachs Group Inc. boosted its holdings in shares of ECARX by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company's stock valued at $94,000 after buying an additional 22,498 shares in the last quarter. XTX Topco Ltd boosted its holdings in shares of ECARX by 329.8% during the 1st quarter. XTX Topco Ltd now owns 105,342 shares of the company's stock valued at $133,000 after buying an additional 80,833 shares in the last quarter. Finally, MYDA Advisors LLC bought a new stake in shares of ECARX during the 1st quarter valued at $164,000.

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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