ECARX (NASDAQ:ECX) Trading Down 8.2% – Time to Sell?

ECARX Holdings, Inc. (NASDAQ:ECX)’s share price fell 8.2% during mid-day trading on Monday . The company traded as low as $1.93 and last traded at $1.9550. 498,889 shares changed hands during mid-day trading, a decline of 88% from the average session volume of 4,208,866 shares. The stock had previously closed at $2.13.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on ECX shares. Wall Street Zen upgraded ECARX from a “sell” rating to a “hold” rating in a research note on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to MarketBeat.com, ECARX presently has an average rating of “Hold” and a consensus price target of $3.20.

ECARX Price Performance

The company has a fifty day moving average price of $2.17 and a 200 day moving average price of $1.86. The company has a market capitalization of $669.17 million, a P/E ratio of -8.30 and a beta of 0.74.

ECARX (NASDAQ:ECX) last announced its quarterly earnings results on Tuesday, August 26th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $155.30 million during the quarter, compared to analyst estimates of $223.92 million. On average, equities research analysts predict that ECARX Holdings, Inc. will post -0.42 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ECARX

Several institutional investors have recently modified their holdings of the company. Integrated Wealth Concepts LLC acquired a new stake in shares of ECARX in the 3rd quarter worth about $51,000. Squarepoint Ops LLC bought a new position in ECARX in the 3rd quarter worth about $59,000. Tower Research Capital LLC TRC acquired a new stake in shares of ECARX in the second quarter valued at approximately $71,000. Goldman Sachs Group Inc. raised its holdings in shares of ECARX by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after buying an additional 22,498 shares during the last quarter. Finally, XTX Topco Ltd boosted its position in shares of ECARX by 329.8% during the first quarter. XTX Topco Ltd now owns 105,342 shares of the company’s stock worth $133,000 after buying an additional 80,833 shares during the period.

ECARX Company Profile

ECARX Holdings Inc develops a full stack automotive computing platform to shape the interaction between people and cars by rapidly advancing the technology by smart mobility worldwide. It offers system on chips, central computing platforms, operating systems, and software. Its core products include infotainment head units, digital cockpits, vehicle chip-set solutions, core operating system, and integrated software stack.