Ghisallo Capital Management LLC Takes $441,000 Position in ECARX Holdings, Inc. $ECX

Key Points

• Ghisallo Capital Management LLC has acquired a new position in ECARX Holdings, purchasing 350,000 shares for approximately $441,000, representing a 0.09% ownership in the company.
• Multiple large investors have recently initiated positions in ECARX, including Deutsche Bank AG with a stake valued at $3.72 million, indicating increased institutional interest.
• Wall Street analysts have downgraded ECARX from a "hold" to a "sell" rating, yet the stock currently has an average rating of "buy" with a target price of $3.20.

Ghisallo Capital Management LLC acquired a new position in ECARX Holdings, Inc. (NASDAQ:ECX - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 350,000 shares of the company's stock, valued at approximately $441,000. Ghisallo Capital Management LLC owned about 0.09% of ECARX as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Deutsche Bank AG acquired a new position in ECARX in the first quarter valued at $3,722,000. Valliance Asset Management Ltd acquired a new position in ECARX in the first quarter valued at $2,252,000. Infini Capital Management Ltd acquired a new position in ECARX in the first quarter valued at $2,005,000. Renaissance Technologies LLC acquired a new position in ECARX in the fourth quarter valued at $630,000. Finally, Invesco Ltd. acquired a new position in ECARX in the first quarter valued at $302,000.

Analysts Set New Price Targets

Separately, Wall Street Zen lowered shares of ECARX from a "hold" rating to a "sell" rating in a report on Saturday. One analyst has rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of "Buy" and an average target price of $3.20.

ECARX Trading Down 3.7%

Shares of ECX traded down $0.06 on Wednesday, reaching $1.55. The company's stock had a trading volume of 2,907,888 shares, compared to its average volume of 3,483,171. ECARX Holdings, Inc. has a twelve month low of $0.76 and a twelve month high of $3.25. The firm has a fifty day moving average of $1.74 and a 200-day moving average of $1.73.

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

ECARX 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.