Invesco Ltd. Makes New $302,000 Investment 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 position in shares of ECARX Holdings, Inc. (NASDAQ:ECX - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 239,830 shares of the company's stock, valued at approximately $302,000. Invesco Ltd. owned 0.06% of ECARX at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Tower Research Capital LLC TRC acquired a new stake in ECARX in the fourth quarter valued at about $32,000. Citadel Advisors LLC acquired a new stake in ECARX in the fourth quarter valued at about $68,000. XTX Topco Ltd boosted its stake in ECARX by 329.8% in the first quarter. XTX Topco Ltd now owns 105,342 shares of the company's stock valued at $133,000 after buying an additional 80,833 shares in the last quarter. Northern Trust Corp boosted its stake in ECARX by 103.8% in the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company's stock valued at $172,000 after buying an additional 41,568 shares in the last quarter. Finally, Millennium Management LLC acquired a new stake in ECARX in the fourth quarter valued at about $207,000.

Analyst Ratings Changes

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

ECARX Stock Performance

Shares of NASDAQ ECX opened at $1.54 on Monday. The firm has a 50 day moving average price of $1.72 and a two-hundred day moving average price of $1.72. The stock has a market cap of $570.92 million, a P/E ratio of -4.28 and a beta of 0.66. ECARX Holdings, Inc. has a 52-week low of $0.76 and a 52-week high of $3.25.

ECARX (NASDAQ:ECX - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $223.92 million. 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.