Renaissance Technologies LLC Purchases Shares of 298,427 ECARX Holdings Inc. (NASDAQ:ECX)

Renaissance Technologies LLC acquired a new position in ECARX Holdings Inc. (NASDAQ:ECX - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 298,427 shares of the company's stock, valued at approximately $630,000. Renaissance Technologies LLC owned about 0.09% of ECARX as of its most recent SEC filing.

Separately, Virtu Financial LLC purchased a new stake in ECARX during the 4th quarter worth approximately $319,000.

Analyst Ratings Changes

Separately, UBS Group began coverage on shares of ECARX in a research note on Tuesday, February 11th. They set a "buy" rating and a $3.20 price objective for the company.

ECARX Price Performance

ECARX stock traded down $0.01 during trading hours on Thursday, hitting $1.59. 502,868 shares of the stock traded hands, compared to its average volume of 4,596,331. ECARX Holdings Inc. has a 1 year low of $0.76 and a 1 year high of $3.25. The stock has a market capitalization of $587.61 million, a price-to-earnings ratio of -3.17 and a beta of 0.47. The firm's 50 day moving average price is $1.69 and its 200-day moving average price is $1.82.

ECARX (NASDAQ:ECX - Get Free Report) last posted its quarterly earnings results on Wednesday, April 30th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.05) by ($0.03). The business had revenue of $168.40 million for the quarter, compared to the consensus estimate of $154.18 million. Research analysts forecast that ECARX Holdings Inc. will post -0.42 earnings per share for the current fiscal 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.