ECARX (NASDAQ:ECX) Stock Price Up 13.1% – Should You Buy?

Shares of ECARX Holdings, Inc. (NASDAQ:ECX) traded up 13.1% during trading on Wednesday . The stock traded as high as $1.79 and last traded at $1.7650. 5,191,118 shares were traded during mid-day trading, an increase of 41% from the average session volume of 3,690,871 shares. The stock had previously closed at $1.56.

Analyst Ratings Changes

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

ECARX Stock Down 0.8%

The stock has a fifty day moving average of $1.77 and a 200-day moving average of $1.89. The firm has a market capitalization of $658.05 million, a P/E ratio of -8.88 and a beta of 0.77.

ECARX (NASDAQ:ECX) last issued its quarterly earnings data on Thursday, February 12th. The company reported $0.01 EPS for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $301.06 million for the quarter, compared to the consensus estimate of $311.90 million. As a group, analysts forecast that ECARX Holdings, Inc. will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On ECARX

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Integrated Wealth Concepts LLC bought a new stake in shares of ECARX during the third quarter worth $51,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in ECARX in the fourth quarter worth about $47,000. Millennium Management LLC bought a new stake in ECARX during the 4th quarter worth about $48,000. Squarepoint Ops LLC bought a new stake in ECARX during the 3rd quarter worth about $59,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in ECARX during the 4th 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).