ECARX (NASDAQ:ECX) Stock: Insider Ziyu Shen Acquires 300,000 Shares

ECARX Holdings, Inc. (NASDAQ:ECX) CEO Ziyu Shen bought 300,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 11th. The stock was purchased at an average cost of $0.78 per share, for a total transaction of $234,000.00. Following the completion of the purchase, the chief executive officer owned 300,000 shares of the company’s stock, valued at $234,000. This trade represents a ∞ increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

ECARX Stock Up 4.7%

NASDAQ:ECX opened at $0.82 on Friday. The firm has a market capitalization of $293.77 million, a P/E ratio of -4.58 and a beta of 1.07. The company has a fifty day moving average of $0.93 and a 200 day moving average of $1.16. ECARX Holdings, Inc. has a 52 week low of $0.67 and a 52 week high of $2.47.

ECARX (NASDAQ:ECX) last announced its quarterly earnings results on Wednesday, November 4th. The company reported ($0.13) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.01 by ($0.14). The business had revenue of $240.80 million for the quarter, compared to analyst estimates of $315.22 million. As a group, analysts anticipate that ECARX Holdings, Inc. will post -0.02 EPS for the current year.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a report on Thursday, October 15th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, ECARX presently has an average rating of “Reduce”.

Hedge Funds Weigh In On ECARX

Several hedge funds have recently made changes to their positions in ECX. State of Wyoming raised its holdings in shares of ECARX by 621.4% during the first quarter. State of Wyoming now owns 51,897 shares of the company’s stock valued at $51,000 after acquiring an additional 44,703 shares in the last quarter. Themes Management Co LLC boosted its holdings in ECARX by 44.9% in the first quarter. Themes Management Co LLC now owns 102,625 shares of the company’s stock valued at $100,000 after acquiring an additional 31,801 shares in the last quarter. Finally, Renaissance Technologies LLC boosted its holdings in ECARX by 9.4% in the first quarter. Renaissance Technologies LLC now owns 2,015,600 shares of the company’s stock valued at $1,971,000 after acquiring an additional 173,500 shares in the last quarter.

ECARX Company Profile

ECARX Holdings Inc. is an automotive technology company that develops hardware and software for connected and intelligent vehicles. Founded in 2017, the company supplies automotive manufacturers with computing platforms and systems designed to support in-vehicle digital experiences and vehicle functions. Its products and services include digital cockpit systems, infotainment and instrument-cluster solutions, vehicle computing platforms, and technologies for intelligent driving and connectivity. ECARX provides components and software that automakers can integrate into vehicle architectures.