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

Zacks Research downgraded shares of ECARX (NASDAQ:ECX) from a hold rating to a strong sell rating in a report released on Wednesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Wall Street Zen upgraded ECARX from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

ECARX Price Performance

NASDAQ ECX traded up $0.05 on Wednesday, hitting $1.61. 468,567 shares of the stock were exchanged, compared to its average volume of 3,538,880. The company’s 50-day moving average price is $1.78 and its two-hundred day moving average price is $1.89. ECARX has a 52-week low of $0.76 and a 52-week high of $3.25. The company has a market capitalization of $595.02 million, a price-to-earnings ratio of -8.02 and a beta of 0.76.

ECARX (NASDAQ:ECX) last issued its earnings results on Thursday, February 12th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The business had revenue of $301.06 million during the quarter, compared to analyst estimates of $311.90 million. Equities analysts predict that ECARX will post -0.42 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc acquired a new stake in ECARX in the second quarter valued at approximately $2,341,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of ECARX during the 2nd quarter worth $1,722,000. Caitong International Asset Management Co. Ltd bought a new position in shares of ECARX during the 4th quarter valued at $58,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of ECARX during the 4th quarter valued at $47,000. Finally, Integrated Wealth Concepts LLC acquired a new stake in shares of ECARX in the 3rd quarter valued at $51,000.

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).