ECARX (NASDAQ:ECX) Sees Large Volume Increase – Here’s What Happened

ECARX Holdings, Inc. (NASDAQ:ECX) shares saw an uptick in trading volume on Friday . 11,348,852 shares were traded during mid-day trading, an increase of 181% from the previous session’s volume of 4,037,922 shares.The stock last traded at $1.6950 and had previously closed at $1.79.

Analyst Ratings Changes

ECX has been the subject of a number of research analyst reports. Wall Street Zen raised ECARX from a “sell” rating to a “hold” rating in a report on Saturday, November 8th. Zacks Research lowered ECARX from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Finally, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a report on Wednesday, January 21st. Two analysts have rated the stock with a Sell rating, According to MarketBeat, ECARX has an average rating of “Sell”.

ECARX Price Performance

The stock has a market cap of $646.92 million, a price-to-earnings ratio of -8.73 and a beta of 0.77. The firm has a fifty day moving average of $1.77 and a 200 day moving average of $1.89.

ECARX (NASDAQ:ECX) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.01 earnings per share 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 analyst estimates of $311.90 million. Research analysts anticipate that ECARX Holdings, Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Trading of ECARX

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