ECARX (NASDAQ:ECX) Sees Strong Trading Volume – What’s Next?

ECARX Holdings, Inc. (NASDAQ:ECX) saw unusually-strong trading volume on Friday . Approximately 11,348,852 shares were traded during trading, an increase of 181% from the previous session’s volume of 4,037,922 shares.The stock last traded at $1.6950 and had previously closed at $1.79.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on ECX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a report on Wednesday, January 21st. Zacks Research downgraded ECARX from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Wall Street Zen raised ECARX from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat, the company presently has an average rating of “Sell”.

ECARX Trading Down 0.8%

The firm has a market cap of $658.05 million, a PE ratio of -8.88 and a beta of 0.77. The business’s 50-day simple moving average is $1.77 and its 200 day simple moving average is $1.89.

ECARX (NASDAQ:ECX) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.01 EPS for the quarter, beating 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. Analysts expect that ECARX Holdings, Inc. will post -0.42 earnings per share for the current year.

Institutional Trading of ECARX

A number of hedge funds have recently bought and sold shares of ECX. Legal & General Group Plc bought a new position in shares of ECARX in the 2nd quarter worth $2,341,000. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in shares of ECARX during the 2nd quarter worth $1,722,000. Alpine Global Management LLC bought a new stake in ECARX during the fourth quarter valued at about $200,000. Millennium Management LLC purchased a new position in ECARX in the fourth quarter valued at about $48,000. Finally, Caitong International Asset Management Co. Ltd purchased a new position in ECARX in the fourth quarter valued at about $58,000.

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).