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

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

A number of other equities analysts also recently issued reports on ECX. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Two analysts have rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

ECARX Stock Performance

NASDAQ ECX opened at $1.56 on Wednesday. ECARX has a one year low of $0.76 and a one year high of $3.25. The stock has a 50-day moving average of $1.78 and a 200 day moving average of $1.89. The company has a market capitalization of $578.34 million, a price-to-earnings ratio of -7.80 and a beta of 0.76.

ECARX (NASDAQ:ECX) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $301.06 million for the quarter, compared to analysts’ expectations of $311.90 million. On average, equities analysts predict that ECARX will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ECARX

Hedge funds have recently modified their holdings of the company. Susquehanna Portfolio Strategies LLC purchased a new stake in shares of ECARX in the fourth quarter worth $296,000. Tudor Investment Corp ET AL increased its stake in ECARX by 66.7% in the 4th quarter. Tudor Investment Corp ET AL now owns 2,134,089 shares of the company’s stock worth $3,671,000 after buying an additional 854,139 shares in the last quarter. Millennium Management LLC bought a new stake in ECARX during the fourth quarter valued at about $48,000. Marshall Wace LLP bought a new stake in ECARX during the 4th quarter valued at approximately $426,000. Finally, Caitong International Asset Management Co. Ltd bought a new stake in shares of ECARX during the fourth quarter valued at approximately $58,000.

About ECARX

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).