ECARX (NASDAQ:ECX) Shares Up 8.5% - Should You Buy?

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report)'s share price was up 8.5% during mid-day trading on Monday . The company traded as high as $1.67 and last traded at $1.72. Approximately 69,671 shares were traded during mid-day trading, a decline of 96% from the average daily volume of 1,930,345 shares. The stock had previously closed at $1.58.

ECARX Stock Performance

The stock has a 50 day moving average of $1.45 and a 200-day moving average of $1.79. The firm has a market capitalization of $674.73 million, a P/E ratio of -5.20 and a beta of 0.56.

ECARX (NASDAQ:ECX - Get Free Report) last announced its quarterly earnings data on Wednesday, April 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The company had revenue of $168.40 million during the quarter, compared to analyst estimates of $154.18 million. As a group, sell-side analysts expect that ECARX Holdings, Inc. will post -0.42 EPS for the current year.

Institutional Investors Weigh In On ECARX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Deutsche Bank AG bought a new stake in shares of ECARX during the first quarter valued at about $3,722,000. Valliance Asset Management Ltd bought a new stake in shares of ECARX during the first quarter valued at about $2,252,000. Infini Capital Management Ltd bought a new stake in shares of ECARX during the first quarter valued at about $2,005,000. Jane Street Group LLC increased its position in shares of ECARX by 234.4% during the first quarter. Jane Street Group LLC now owns 576,490 shares of the company's stock valued at $726,000 after buying an additional 404,119 shares during the period. Finally, Hhlr Advisors LTD. bought a new stake in shares of ECARX during the first quarter valued at about $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.