ECARX (NASDAQ:ECX) Trading Down 5.3% - Here's Why

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report)'s stock price traded down 5.3% during trading on Friday . The company traded as low as $1.49 and last traded at $1.51. 459,841 shares were traded during mid-day trading, a decline of 75% from the average session volume of 1,870,756 shares. The stock had previously closed at $1.59.

Analyst Upgrades and Downgrades

Separately, UBS Group assumed coverage on shares of ECARX in a research report on Tuesday, February 11th. They set a "buy" rating and a $3.20 price objective for the company.

ECARX Trading Down 4.7%

The stock has a market capitalization of $561.66 million, a P/E ratio of -3.03 and a beta of 0.47. The company has a 50-day moving average price of $1.46 and a two-hundred day moving average price of $1.81.

ECARX (NASDAQ:ECX - Get Free Report) last issued its earnings results on Wednesday, April 30th. The company reported ($0.08) earnings per share for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The business had revenue of $168.40 million during the quarter, compared to analyst estimates of $154.18 million. Research analysts forecast that ECARX Holdings Inc. will post -0.42 earnings per share for the current year.

Institutional Investors Weigh In On ECARX

A number of large investors have recently bought and sold shares of the stock. Deutsche Bank AG acquired a new stake in shares of ECARX in the 1st quarter valued at about $3,722,000. Valliance Asset Management Ltd acquired a new stake in shares of ECARX in the 1st quarter worth about $2,252,000. Infini Capital Management Ltd bought a new position in shares of ECARX in the first quarter valued at approximately $2,005,000. Jane Street Group LLC boosted its holdings in ECARX by 234.4% during the 1st 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. Finally, Hhlr Advisors LTD. bought a new stake in shares of ECARX in the 1st quarter worth $504,000.

ECARX Company Profile

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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