ECARX (NASDAQ:ECX) Shares Cross Above 50-Day Moving Average – Here’s What Happened

Shares of ECARX Holdings, Inc. (NASDAQ:ECX) crossed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $0.97 and traded as high as $1.03. ECARX shares last traded at $1.01, with a volume of 1,818,665 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, ECARX presently has a consensus rating of “Reduce”.

ECARX Price Performance

The stock has a market capitalization of $360.03 million, a P/E ratio of -20.20 and a beta of 1.03. The stock’s fifty day moving average price is $0.97 and its 200 day moving average price is $1.21.

ECARX (NASDAQ:ECX) last posted its quarterly earnings results on Tuesday, August 11th. The company reported ($0.03) earnings per share for the quarter, meeting the consensus estimate of ($0.03). The company had revenue of $225.20 million for the quarter, compared to the consensus estimate of $226.91 million. On average, sell-side analysts expect that ECARX Holdings, Inc. will post -0.02 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ECX. State of Wyoming lifted its holdings in shares of ECARX by 621.4% in the 1st quarter. State of Wyoming now owns 51,897 shares of the company’s stock worth $51,000 after buying an additional 44,703 shares during the period. Themes Management Co LLC boosted its position in ECARX by 44.9% during the first quarter. Themes Management Co LLC now owns 102,625 shares of the company’s stock valued at $100,000 after purchasing an additional 31,801 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in shares of ECARX by 9.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,015,600 shares of the company’s stock valued at $1,971,000 after buying an additional 173,500 shares in the last quarter.

About ECARX

ECARX Holdings Inc is a global automotive technology company that develops hardware and software for connected, intelligent vehicles. Its products are designed to support digital cockpits, infotainment, vehicle connectivity, advanced driver-assistance systems and centralized vehicle computing.

The company provides integrated solutions that can include automotive chips, computing platforms, operating systems, application software and cloud-based services. Its technologies are used by automakers to deliver features such as in-vehicle entertainment, navigation, voice interaction, smartphone integration, over-the-air updates and other intelligent-vehicle functions.

Founded in 2017, ECARX serves automotive manufacturers in China and international markets.