Valliance Asset Management Ltd Takes Position in ECARX Holdings, Inc. (NASDAQ:ECX)

Key Points

• Valliance Asset Management Ltd acquired 1,787,105 shares of ECARX Holdings, Inc., worth approximately $2.25 million, making it 5.1% of its portfolio and the 4th largest position in the firm.
• ECARX reported earnings of ($0.08) EPS for the last quarter, missing the analysts’ expected ($0.05), with revenues of $168.40 million surpassing estimates.
• The stock is currently trading at $1.59, with a market cap of $589.46 million and a one-year high of $3.25.

Valliance Asset Management Ltd bought a new stake in shares of ECARX Holdings, Inc. (NASDAQ:ECX - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 1,787,105 shares of the company's stock, valued at approximately $2,252,000. ECARX comprises approximately 5.1% of Valliance Asset Management Ltd's investment portfolio, making the stock its 4th biggest holding. Valliance Asset Management Ltd owned approximately 0.48% of ECARX as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in the stock. Two Sigma Securities LLC bought a new position in ECARX in the 4th quarter worth approximately $30,000. Tower Research Capital LLC TRC bought a new position in ECARX during the 4th quarter valued at $32,000. XTX Topco Ltd bought a new position in ECARX during the 4th quarter valued at $52,000. Citadel Advisors LLC bought a new position in ECARX during the 4th quarter valued at $68,000. Finally, Northern Trust Corp boosted its stake in ECARX by 103.8% during the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company's stock valued at $172,000 after purchasing an additional 41,568 shares in the last quarter.

ECARX Stock Down 6.2%

NASDAQ ECX traded down $0.11 on Friday, reaching $1.59. 2,061,011 shares of the stock traded hands, compared to its average volume of 4,286,120. The firm's fifty day simple moving average is $1.77 and its 200 day simple moving average is $1.76. The company has a market cap of $587.61 million, a price-to-earnings ratio of -4.53 and a beta of 0.68. ECARX Holdings, Inc. has a 12 month low of $0.76 and a 12 month high of $3.25.

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