ECARX (NASDAQ:ECX) Shares Down 3.6% – Here’s Why

ECARX Holdings, Inc. (NASDAQ:ECX)’s stock price was down 3.6% during trading on Monday . The company traded as low as $1.77 and last traded at $1.7350. Approximately 320,972 shares traded hands during trading, a decline of 92% from the average daily volume of 4,088,477 shares. The stock had previously closed at $1.80.

Wall Street Analyst Weigh In

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

ECARX Price Performance

The firm has a market cap of $632.09 million, a PE ratio of -7.75 and a beta of 0.76. The stock’s fifty day simple moving average is $2.05 and its 200-day simple moving average is $1.89.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the business. Integrated Wealth Concepts LLC acquired a new position in ECARX during the third quarter valued at $51,000. Squarepoint Ops LLC acquired a new stake in ECARX during the third quarter worth about $59,000. Tower Research Capital LLC TRC acquired a new stake in ECARX during the second quarter worth about $71,000. Goldman Sachs Group Inc. raised its position in ECARX by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after acquiring an additional 22,498 shares in the last quarter. Finally, MYDA Advisors LLC acquired a new position in ECARX in the first quarter valued at approximately $164,000.

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).