ECARX (NASDAQ:ECX) Shares Down 4.9% – What’s Next?

ECARX Holdings, Inc. (NASDAQ:ECX)’s stock price fell 4.9% during mid-day trading on Friday . The stock traded as low as $1.63 and last traded at $1.6350. 158,522 shares were traded during trading, a decline of 96% from the average session volume of 3,582,288 shares. The stock had previously closed at $1.72.

Analyst Upgrades and Downgrades

ECX has been the topic of a number of research analyst reports. Weiss Ratings restated a “sell (e+)” rating on shares of ECARX in a research note on Wednesday, October 8th. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ECARX presently has an average rating of “Hold” and a consensus target price of $3.20.

ECARX Stock Down 4.7%

The stock has a market capitalization of $608.00 million, a PE ratio of -7.45 and a beta of 0.76. The firm has a 50 day moving average price of $1.93 and a 200-day moving average price of $1.89.

Institutional Trading of ECARX

Institutional investors and hedge funds have recently bought and sold shares of the business. Legal & General Group Plc purchased a new stake in shares of ECARX in the 2nd quarter valued at $2,341,000. Tudor Investment Corp ET AL lifted its position in ECARX by 430.1% during the third quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company’s stock valued at $2,573,000 after purchasing an additional 1,038,476 shares during the period. Citadel Advisors LLC purchased a new stake in ECARX in the third quarter valued at $2,054,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new stake in ECARX during the 2nd quarter worth about $1,722,000. Finally, Jane Street Group LLC grew its position in ECARX by 234.4% during the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock worth $726,000 after purchasing an additional 404,119 shares during the period.

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).