ECARX (NASDAQ:ECX) Sees Strong Trading Volume – Here’s What Happened

by · The Cerbat Gem

ECARX Holdings, Inc. (NASDAQ:ECX – Get Free Report) saw unusually-strong trading volume on Friday . Approximately 11,348,852 shares changed hands during mid-day trading, an increase of 181% from the previous session’s volume of 4,037,922 shares.The stock last traded at $1.6950 and had previously closed at $1.79.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on ECX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Wall Street Zen upgraded ECARX from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Finally, Zacks Research lowered shares of ECARX from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company presently has a consensus rating of “Sell”.

View Our Latest Stock Analysis on ECARX

ECARX Trading Down 2.5%

The firm has a market cap of $646.92 million, a PE ratio of -8.73 and a beta of 0.77. The company has a 50-day simple moving average of $1.77 and a 200 day simple moving average of $1.89.

ECARX (NASDAQ:ECX – Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $301.06 million for the quarter, compared to analysts’ expectations of $311.90 million. On average, equities analysts expect that ECARX Holdings, Inc. will post -0.42 earnings per share for the current year.

Hedge Funds Weigh In On ECARX

A number of large investors have recently bought and sold shares of ECX. Cubist Systematic Strategies LLC acquired a new stake in ECARX in the first quarter valued at approximately $213,000. Goldman Sachs Group Inc. increased its holdings in ECARX by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock worth $94,000 after acquiring an additional 22,498 shares in the last quarter. Jane Street Group LLC raised its position in ECARX by 234.4% during the first quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock worth $726,000 after acquiring an additional 404,119 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in ECARX during the second quarter valued at $1,722,000. Finally, Legal & General Group Plc purchased a new stake in shares of ECARX during the second quarter worth about $2,341,000.

ECARX Company Profile

(Get Free Report)

ECARX is a global automotive technology company focused on developing and delivering smart cockpit solutions for original equipment manufacturers (OEMs). The company designs and manufactures a range of in-vehicle computing platforms, central processing units, digital instrument clusters and multimedia infotainment systems. ECARX’s core offerings integrate software, hardware and cloud connectivity to create seamless user experiences for drivers and passengers.

The company’s product portfolio spans telematics control units, over-the-air update frameworks and next-generation human-machine interfaces (HMI).

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