ECARX (NASDAQ:ECX) Shares Climb 3.7% – Here’s Why

Shares of ECARX Holdings, Inc. (NASDAQ:ECX) rose 3.7% during trading on Monday. The stock traded as high as $1.1450 and last traded at $1.13. 1,627,796 shares changed hands during mid-day trading, an increase of 39% from the average session volume of 1,170,168 shares. The stock had previously closed at $1.09.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of ECARX in a report on Friday, July 17th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Reduce”.

ECARX Stock Performance

The company has a market capitalization of $383.21 million, a price-to-earnings ratio of -21.54 and a beta of 1.00. The business has a 50 day moving average price of $1.07 and a 200-day moving average price of $1.11.

ECARX (NASDAQ:ECX) last released its earnings results on Tuesday, August 11th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The business had revenue of $225.20 million for the quarter, compared to analyst estimates of $226.91 million. As a group, equities analysts predict that ECARX Holdings, Inc. will post -0.02 EPS for the current fiscal year.

Institutional Trading of ECARX

Several hedge funds have recently modified their holdings of ECX. Themes Management Co LLC boosted its stake in ECARX by 44.9% during the first quarter. Themes Management Co LLC now owns 102,625 shares of the company’s stock worth $100,000 after acquiring an additional 31,801 shares in the last quarter. Renaissance Technologies LLC increased its stake in ECARX by 9.4% in the first quarter. Renaissance Technologies LLC now owns 2,015,600 shares of the company’s stock valued at $1,971,000 after purchasing an additional 173,500 shares in the last quarter. State of Wyoming raised its holdings in shares of ECARX by 621.4% during the first quarter. State of Wyoming now owns 51,897 shares of the company’s stock valued at $51,000 after purchasing an additional 44,703 shares during the period. Caitong International Asset Management Co. Ltd acquired a new position in shares of ECARX during the fourth quarter valued at about $175,000. Finally, Alpine Global Management LLC bought a new position in shares of ECARX during the 4th quarter worth about $200,000.

About ECARX

ECARX Holdings Inc (NASDAQ: ECX) is an automotive technology company that develops hardware and software for intelligent, connected vehicles. Its solutions are designed to support digital cockpits, in-vehicle infotainment, vehicle connectivity and centralized computing, helping automakers integrate electronic systems and digital services into their vehicles.

The company’s offerings include automotive operating systems, cockpit platforms, infotainment systems, vehicle-computing hardware and cloud-based services.