ECARX's (ECX) "Sell (E+)" Rating Reiterated at Weiss Ratings

Key Points

• ECARX's stock received a "sell (E+)" rating from Weiss Ratings, who echoed a similar sentiment with a recently lowered rating from Wall Street Zen.
• The company reported a quarterly loss of ($0.13) EPS and revenues of $155.30 million, falling short of analyst expectations of $223.92 million.
• Recent institutional investments show significant interest, with several large investors purchasing new stakes in the company during the first and second quarters.

ECARX (NASDAQ:ECX - Get Free Report)'s stock had its "sell (e+)" rating reiterated by equities researchers at Weiss Ratings in a research report issued on Friday,Weiss Ratings reports.

Separately, Wall Street Zen lowered ECARX from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $3.20.

ECARX Trading Down 1.7%

NASDAQ ECX opened at $2.28 on Friday. The firm has a market capitalization of $845.26 million, a P/E ratio of -6.33 and a beta of 0.71. The business has a fifty day simple moving average of $1.95 and a 200 day simple moving average of $1.70. ECARX has a 12 month low of $0.76 and a 12 month high of $3.25.

ECARX (NASDAQ:ECX - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported ($0.13) EPS for the quarter. The company had revenue of $155.30 million during the quarter, compared to analyst estimates of $223.92 million. As a group, sell-side analysts predict that ECARX will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On ECARX

Several large investors have recently made changes to their positions in ECX. Deutsche Bank AG purchased a new stake in shares of ECARX during the 1st quarter valued at $3,722,000. Valliance Asset Management Ltd purchased a new stake in shares of ECARX during the 1st quarter valued at $2,252,000. Infini Capital Management Ltd purchased a new stake in shares of ECARX during the 1st quarter valued at $2,005,000. Legal & General Group Plc purchased a new stake in shares of ECARX during the 2nd quarter valued at $2,341,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of ECARX during the 2nd quarter valued at $1,722,000.

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.

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