ECARX (NASDAQ:ECX) Cut to Strong Sell at Zacks Research

Zacks Research downgraded shares of ECARX (NASDAQ:ECX) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

A number of other research firms also recently commented on ECX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research note on Wednesday, January 21st. Wall Street Zen upgraded shares of ECARX from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

ECARX Stock Up 0.6%

NASDAQ:ECX opened at $1.57 on Wednesday. The stock’s 50 day moving average price is $1.78 and its 200 day moving average price is $1.89. ECARX has a 52-week low of $0.76 and a 52-week high of $3.25. The company has a market capitalization of $582.05 million, a PE ratio of -7.85 and a beta of 0.76.

ECARX (NASDAQ:ECX) last released its earnings results on Thursday, February 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.03) by $0.04. The business had revenue of $301.06 million for the quarter, compared to analyst estimates of $311.90 million. As a group, sell-side analysts anticipate that ECARX will post -0.42 EPS for the current fiscal year.

Institutional Trading of ECARX

Institutional investors have recently made changes to their positions in the stock. Jane Street Group LLC lifted its stake in 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 acquiring an additional 1,525,093 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in shares of ECARX by 66.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 2,134,089 shares of the company’s stock valued at $3,671,000 after buying an additional 854,139 shares in the last quarter. Renaissance Technologies LLC boosted its stake in ECARX by 56.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,842,100 shares of the company’s stock valued at $3,168,000 after buying an additional 667,800 shares in the last quarter. Legal & General Group Plc boosted its position in ECARX by 1.4% in the third quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock valued at $2,317,000 after buying an additional 16,420 shares in the last quarter. Finally, Citadel Advisors LLC acquired a new stake in ECARX during the 3rd quarter valued at $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).