Invesco Ltd. Invests $302,000 in ECARX Holdings, Inc. $ECX

Key Points

• Invesco Ltd. has made a new investment in ECARX Holdings, Inc., acquiring 239,830 shares valued at approximately $302,000.
• Analysts have recently downgraded ECARX's stock rating from "hold" to "sell", although it still has a consensus rating of "buy" with an average target price of $3.20.
• ECARX's recent earnings report showed a loss of ($0.13) EPS and revenue of $155.30 million, which fell short of estimates, highlighting financial challenges for the company.

Invesco Ltd. acquired a new stake in ECARX Holdings, Inc. (NASDAQ:ECX - Free Report) during the first quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 239,830 shares of the company's stock, valued at approximately $302,000. Invesco Ltd. owned approximately 0.06% of ECARX as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in ECX. Tower Research Capital LLC TRC bought a new position in ECARX in the 4th quarter worth approximately $32,000. Citadel Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter worth approximately $68,000. XTX Topco Ltd grew 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 worth $133,000 after purchasing an additional 80,833 shares in the last quarter. Northern Trust Corp grew its holdings in shares of ECARX by 103.8% during the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company's stock worth $172,000 after purchasing an additional 41,568 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in shares of ECARX during the 4th quarter worth approximately $207,000.

Analyst Upgrades and Downgrades

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

ECARX Price Performance

ECARX stock remained flat at $1.75 during mid-day trading on Friday. The company's stock had a trading volume of 1,301,304 shares, compared to its average volume of 2,593,888. The business has a fifty day moving average of $1.67 and a two-hundred day moving average of $1.71. ECARX Holdings, Inc. has a 1 year low of $0.76 and a 1 year high of $3.25. The company has a market capitalization of $648.78 million, a P/E ratio of -4.86 and a beta of 0.66.

ECARX (NASDAQ:ECX - Get Free Report) last released 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 during the quarter, compared to analysts' expectations of $223.92 million. Research analysts anticipate that ECARX Holdings, Inc. will post -0.42 earnings per share for the current year.

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.