ECARX (NASDAQ:ECX) Shares Up 8.9% – What’s Next?

ECARX Holdings, Inc. (NASDAQ:ECX)’s stock price rose 8.9% during mid-day trading on Thursday . The company traded as high as $1.60 and last traded at $1.6450. Approximately 791,703 shares traded hands during mid-day trading, a decline of 76% from the average daily volume of 3,327,490 shares. The stock had previously closed at $1.51.

Analyst Ratings Changes

A number of research analysts recently issued reports on ECX shares. Zacks Research downgraded shares of ECARX from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Finally, Wall Street Zen raised ECARX from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two investment analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has an average rating of “Sell”.

ECARX Trading Up 10.3%

The company’s 50 day moving average is $1.77 and its 200 day moving average is $1.89. The stock has a market capitalization of $617.27 million, a price-to-earnings ratio of -8.33 and a beta of 0.76.

ECARX (NASDAQ:ECX) last announced its 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 business had revenue of $301.06 million for the quarter, compared to analysts’ expectations of $311.90 million. Analysts anticipate that ECARX Holdings, Inc. will post -0.42 EPS for the current fiscal year.

Institutional Trading of ECARX

A number of hedge funds have recently added to or reduced their stakes in the stock. Jane Street Group LLC increased its holdings in shares of ECARX by 194.3% in the fourth quarter. Jane Street Group LLC now owns 2,309,869 shares of the company’s stock valued at $3,973,000 after purchasing an additional 1,525,093 shares during the period. Tudor Investment Corp ET AL raised its stake in shares of ECARX by 66.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 2,134,089 shares of the company’s stock worth $3,671,000 after buying an additional 854,139 shares in the last quarter. Renaissance Technologies LLC raised its position in ECARX by 56.9% in the fourth quarter. Renaissance Technologies LLC now owns 1,842,100 shares of the company’s stock worth $3,168,000 after acquiring an additional 667,800 shares in the last quarter. Legal & General Group Plc grew its stake in shares of ECARX by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock worth $2,317,000 after purchasing an additional 16,420 shares during the period. Finally, Citadel Advisors LLC purchased a new stake in ECARX during the third quarter worth about $2,054,000.

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).