ECARX (NASDAQ:ECX) Rating Lowered to “Strong Sell” at Zacks Research

ECARX (NASDAQ:ECX) was downgraded by equities researchers at Zacks Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Wednesday,Zacks.com reports.

Other analysts have also issued research reports about the company. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a report on Wednesday, January 21st. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Two investment analysts have rated the stock with a Sell rating, According to MarketBeat.com, ECARX presently has an average rating of “Sell”.

ECARX Trading Up 3.5%

ECX traded up $0.06 during trading on Wednesday, hitting $1.62. 524,927 shares of the company’s stock traded hands, compared to its average volume of 3,541,226. The stock has a market capitalization of $598.73 million, a price-to-earnings ratio of -8.08 and a beta of 0.76. The company’s 50 day simple moving average is $1.78 and its two-hundred day simple moving average is $1.89. ECARX has a 12-month low of $0.76 and a 12-month high of $3.25.

ECARX (NASDAQ:ECX) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The business had revenue of $301.06 million during the quarter, compared to the consensus estimate of $311.90 million. On average, equities analysts expect that ECARX will post -0.42 EPS for the current year.

Hedge Funds Weigh In On ECARX

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in ECARX by 194.3% in the 4th quarter. Jane Street Group LLC now owns 2,309,869 shares of the company’s stock valued at $3,973,000 after purchasing an additional 1,525,093 shares during the last quarter. Tudor Investment Corp ET AL raised its stake in ECARX by 66.7% during 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 acquiring an additional 854,139 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of ECARX by 56.9% during the fourth quarter. Renaissance Technologies LLC now owns 1,842,100 shares of the company’s stock worth $3,168,000 after purchasing an additional 667,800 shares during the last quarter. Legal & General Group Plc increased its stake in shares of ECARX by 1.4% during the third quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock worth $2,317,000 after acquiring an additional 16,420 shares during the period. Finally, Citadel Advisors LLC acquired a new position in ECARX during the 3rd quarter worth approximately $2,054,000.

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).