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

ECARX Holdings, Inc. (NASDAQ:ECX) shares were down 3.6% during mid-day trading on Monday . The stock 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 topic of several recent research reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, October 8th. Wall Street Zen upgraded shares of ECARX from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, ECARX currently has an average rating of “Hold” and an average price target of $3.20.

ECARX Stock Performance

The business’s 50 day moving average price is $2.03 and its two-hundred day moving average price is $1.90. The company has a market capitalization of $632.09 million, a price-to-earnings ratio of -7.75 and a beta of 0.76.

Hedge Funds Weigh In On ECARX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Tudor Investment Corp ET AL raised its stake in shares of ECARX by 430.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company’s stock worth $2,573,000 after buying an additional 1,038,476 shares in the last quarter. Legal & General Group Plc grew its holdings in 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. Citadel Advisors LLC bought a new stake in ECARX in the third quarter worth about $2,054,000. UBS Group AG lifted its holdings in ECARX by 13.1% in the 3rd quarter. UBS Group AG now owns 950,930 shares of the company’s stock valued at $1,911,000 after acquiring an additional 110,243 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of ECARX during the 2nd quarter valued at about $1,722,000.

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).