ECARX (NASDAQ:ECX) Stock: Insider Ziyu Shen Purchases 300,000 Shares

Key Points

• CEO Ziyu Shen purchased 300,000 ECARX shares at an average price of $0.78, investing $234,000; the transaction was disclosed in an SEC filing.
• ECARX reported quarterly EPS of negative $0.13, missing analysts’ estimate of $0.01, while revenue of $240.8 million fell short of the $315.2 million consensus.
• Analyst sentiment is cautious: ECARX has a consensus rating of “Reduce,” with one Hold and one Sell rating reported.

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) CEO Ziyu Shen bought 300,000 shares of ECARX stock in a transaction that occurred on Wednesday, November 11th. The stock was purchased at an average cost of $0.78 per share, for a total transaction of $234,000.00. Following the purchase, the chief executive officer owned 300,000 shares of the company's stock, valued at $234,000. The trade was a ∞ increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

ECARX Stock Up 4.7%

Shares of ECX stock opened at $0.82 on Friday. The business has a 50-day moving average price of $0.93 and a two-hundred day moving average price of $1.16. ECARX Holdings, Inc. has a 12-month low of $0.67 and a 12-month high of $2.47. The firm has a market cap of $293.77 million, a P/E ratio of -4.58 and a beta of 1.07.

ECARX (NASDAQ:ECX - Get Free Report) last posted its quarterly earnings data on Wednesday, November 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.01 by ($0.14). The firm had revenue of $240.80 million during the quarter, compared to analysts' expectations of $315.22 million. As a group, research analysts expect that ECARX Holdings, Inc. will post -0.02 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a "sell (e+)" rating on shares of ECARX in a report on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, ECARX currently has a consensus rating of "Reduce".

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Renaissance Technologies LLC lifted its stake in shares of ECARX by 9.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,015,600 shares of the company's stock valued at $1,971,000 after acquiring an additional 173,500 shares during the last quarter. Themes Management Co LLC grew its position in ECARX by 44.9% during the 1st quarter. Themes Management Co LLC now owns 102,625 shares of the company's stock worth $100,000 after acquiring an additional 31,801 shares during the last quarter. Finally, State of Wyoming increased its stake in ECARX by 621.4% in the 1st quarter. State of Wyoming now owns 51,897 shares of the company's stock worth $51,000 after purchasing an additional 44,703 shares during the period.

About ECARX

ECARX Holdings Inc. is an automotive technology company that develops hardware and software for connected and intelligent vehicles. Founded in 2017, the company supplies automotive manufacturers with computing platforms and systems designed to support in-vehicle digital experiences and vehicle functions. Its products and services include digital cockpit systems, infotainment and instrument-cluster solutions, vehicle computing platforms, and technologies for intelligent driving and connectivity. ECARX provides components and software that automakers can integrate into vehicle architectures.

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