ECARX (NASDAQ:ECX) Shares Cross Above 50-Day Moving Average – Here’s What Happened

ECARX Holdings, Inc. (NASDAQ:ECX)’s stock price passed above its 50 day moving average during trading on Monday. The stock has a 50 day moving average of $0.97 and traded as high as $1.03. ECARX shares last traded at $1.01, with a volume of 1,818,665 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a research note on Thursday, October 15th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ECARX presently has a consensus rating of “Reduce”.

ECARX Stock Performance

The company has a market cap of $360.03 million, a PE ratio of -20.20 and a beta of 1.03. The company has a fifty day moving average of $0.97 and a two-hundred day moving average of $1.21.

ECARX (NASDAQ:ECX) last posted its quarterly earnings data on Tuesday, August 11th. The company reported ($0.03) EPS for the quarter, hitting the consensus estimate of ($0.03). The firm had revenue of $225.20 million for the quarter, compared to analysts’ expectations of $226.91 million. On average, equities analysts forecast that ECARX Holdings, Inc. will post -0.02 EPS for the current year.

Hedge Funds Weigh In On ECARX

Large investors have recently made changes to their positions in the company. Renaissance Technologies LLC lifted its stake in ECARX by 9.4% in the first quarter. Renaissance Technologies LLC now owns 2,015,600 shares of the company’s stock worth $1,971,000 after purchasing an additional 173,500 shares during the last quarter. State of Wyoming boosted its position in shares of ECARX by 621.4% during the first quarter. State of Wyoming now owns 51,897 shares of the company’s stock valued at $51,000 after buying an additional 44,703 shares during the period. Finally, Themes Management Co LLC boosted its position in shares of ECARX by 44.9% during the first quarter. Themes Management Co LLC now owns 102,625 shares of the company’s stock valued at $100,000 after buying an additional 31,801 shares during the period.

About ECARX

ECARX Holdings Inc is a global automotive technology company that develops hardware and software for connected, intelligent vehicles. Its products are designed to support digital cockpits, infotainment, vehicle connectivity, advanced driver-assistance systems and centralized vehicle computing.

The company provides integrated solutions that can include automotive chips, computing platforms, operating systems, application software and cloud-based services. Its technologies are used by automakers to deliver features such as in-vehicle entertainment, navigation, voice interaction, smartphone integration, over-the-air updates and other intelligent-vehicle functions.

Founded in 2017, ECARX serves automotive manufacturers in China and international markets.