Northern Trust Corp Acquires 41,568 Shares of ECARX Holdings Inc. (NASDAQ:ECX)

Northern Trust Corp increased its stake in ECARX Holdings Inc. (NASDAQ:ECX) by 103.8% in the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 81,616 shares of the company’s stock after acquiring an additional 41,568 shares during the quarter. Northern Trust Corp’s holdings in ECARX were worth $172,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of ECX. Two Sigma Securities LLC purchased a new position in ECARX in the fourth quarter worth $30,000. Tower Research Capital LLC TRC acquired a new stake in shares of ECARX in the fourth quarter valued at $32,000. Marshall Wace LLP purchased a new stake in shares of ECARX during the fourth quarter valued at $245,000. XTX Topco Ltd purchased a new stake in ECARX in the 4th quarter worth about $52,000. Finally, Barclays PLC purchased a new stake in shares of ECARX during the 4th quarter worth about $348,000.

Wall Street Analysts Forecast Growth

Separately, UBS Group started coverage on ECARX in a report on Tuesday, February 11th. They issued a “buy” rating and a $3.20 target price on the stock.

ECARX Stock Performance

NASDAQ ECX opened at $1.59 on Wednesday. ECARX Holdings Inc. has a 52 week low of $0.76 and a 52 week high of $3.25. The stock has a fifty day moving average of $1.30 and a 200-day moving average of $1.79. The stock has a market capitalization of $589.46 million, a P/E ratio of -3.18 and a beta of 0.47.

ECARX (NASDAQ:ECX) last issued its quarterly earnings results on Wednesday, April 30th. The company reported ($0.08) EPS for the quarter, missing analysts’ consensus estimates of ($0.05) by ($0.03). The firm had revenue of $168.40 million during the quarter, compared to the consensus estimate of $154.18 million. Equities research analysts forecast that ECARX Holdings Inc. will post -0.42 earnings per share for the current fiscal year.

About ECARX

ECARX Holdings Inc develops a full stack automotive computing platform to shape the interaction between people and cars by rapidly advancing the technology by smart mobility worldwide. It offers system on chips, central computing platforms, operating systems, and software. Its core products include infotainment head units, digital cockpits, vehicle chip-set solutions, core operating system, and integrated software stack.