Shares of ECARX Holdings, Inc. (NASDAQ:ECX – Get Free Report) were down 1% during trading on Friday . The company traded as low as $0.9801 and last traded at $0.9999. 234,619 shares traded hands during mid-day trading, a decline of 70% from the average daily volume of 794,239 shares. The stock had previously closed at $1.01.
Wall Street Analysts Forecast Growth
A number of research firms have weighed in on ECX. Zacks Research raised shares of ECARX from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, ECARX presently has an average rating of “Reduce”.
Check Out Our Latest Report on ECX
ECARX Stock Performance
ECARX (NASDAQ:ECX – Get Free Report) last issued its quarterly earnings results on Tuesday, May 19th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $131.50 million for the quarter, compared to analyst estimates of $204.66 million. On average, equities analysts forecast that ECARX Holdings, Inc. will post -0.04 earnings per share for the current fiscal year.
Institutional Investors Weigh In On ECARX
A number of institutional investors have recently modified their holdings of the stock. Integrated Wealth Concepts LLC bought a new position in shares of ECARX during the third quarter worth about $51,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new stake in ECARX in the fourth quarter valued at about $47,000. Millennium Management LLC bought a new stake in ECARX in the fourth quarter valued at about $48,000. Squarepoint Ops LLC acquired a new stake in ECARX during the third quarter valued at approximately $59,000. Finally, Caitong International Asset Management Co. Ltd bought a new position in ECARX during the 4th quarter worth approximately $58,000.
ECARX Company Profile
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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