ECARX (NASDAQ:ECX) Cut to Strong Sell at Zacks Research

ECARX (NASDAQ:ECX) was downgraded by analysts at Zacks Research from a “hold” rating to a “strong sell” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

ECX has been the topic of a number of other research reports. Wall Street Zen upgraded ECARX from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

ECARX Stock Performance

Shares of ECARX stock opened at $1.56 on Wednesday. ECARX has a 52-week low of $0.76 and a 52-week high of $3.25. The company’s 50 day moving average price is $1.78 and its 200-day moving average price is $1.89. The stock has a market capitalization of $578.34 million, a price-to-earnings ratio of -7.80 and a beta of 0.76.

ECARX (NASDAQ:ECX) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate 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. As a group, equities research analysts forecast that ECARX will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ECARX

Several hedge funds have recently made changes to their positions in the company. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in ECARX during the 4th quarter valued at about $47,000. Millennium Management LLC bought a new position in shares of ECARX in the fourth quarter worth approximately $48,000. Integrated Wealth Concepts LLC purchased a new stake in shares of ECARX during the third quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of ECARX during the fourth quarter valued at approximately $58,000. Finally, Squarepoint Ops LLC bought a new stake in shares of ECARX during the third quarter valued at approximately $59,000.

About ECARX

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).