ECARX (NASDAQ:ECX) Issues Quarterly Earnings Results, Misses Estimates By $0.02 EPS

ECARX (NASDAQ:ECX) issued its quarterly earnings results on Tuesday. The company reported ($0.03) EPS for the quarter, missing the consensus estimate of ($0.01) by ($0.02), FiscalAI reports. The company had revenue of $131.50 million for the quarter, compared to the consensus estimate of $204.66 million.

ECARX Price Performance

Shares of ECX stock opened at $1.03 on Tuesday. The company has a market capitalization of $367.16 million, a P/E ratio of -5.15 and a beta of 0.98. The company’s 50-day simple moving average is $1.12 and its two-hundred day simple moving average is $1.59. ECARX has a one year low of $0.88 and a one year high of $2.70.

Hedge Funds Weigh In On ECARX

Hedge funds have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in ECARX in the 4th quarter worth about $47,000. Millennium Management LLC bought a new position in shares of ECARX during the fourth quarter valued at approximately $48,000. Integrated Wealth Concepts LLC bought a new position in shares of ECARX during the third quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd bought a new position in shares of ECARX during the fourth quarter valued at approximately $58,000. Finally, Squarepoint Ops LLC bought a new position in shares of ECARX during the third quarter valued at approximately $59,000.

Wall Street Analyst Weigh In

A number of brokerages have commented on ECX. Zacks Research upgraded shares of ECARX from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. Weiss Ratings restated a “sell (e+)” rating on shares of ECARX in a research note on Monday, April 20th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Reduce”.

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).