ECARX (NASDAQ:ECX) Stock Price Down 5.8% – Time to Sell?

ECARX Holdings, Inc. (NASDAQ:ECX)’s share price fell 5.8% during mid-day trading on Monday . The stock traded as low as $2.23 and last traded at $2.1950. 2,402,148 shares were traded during mid-day trading, a decline of 41% from the average session volume of 4,049,544 shares. The stock had previously closed at $2.33.

Analysts Set New Price Targets

ECX has been the subject of several recent research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a report on Wednesday, October 8th. Wall Street Zen upgraded shares of ECARX from a “sell” rating to a “hold” rating in a report on Saturday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, ECARX currently has a consensus rating of “Hold” and a consensus price target of $3.20.

ECARX Price Performance

The company has a market cap of $791.51 million, a price-to-earnings ratio of -9.70 and a beta of 0.74. The stock has a 50-day moving average price of $2.11 and a 200 day moving average price of $1.82.

ECARX (NASDAQ:ECX) last posted its 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. Sell-side analysts expect that ECARX Holdings, Inc. will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On ECARX

Hedge funds and other institutional investors have recently bought and sold shares of the company. Tower Research Capital LLC TRC acquired a new position in ECARX during the 2nd quarter worth approximately $71,000. Goldman Sachs Group Inc. boosted its holdings in ECARX by 43.3% during the first quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock worth $94,000 after purchasing an additional 22,498 shares during the last quarter. State of Wyoming bought a new position in ECARX in the second quarter valued at $167,000. XTX Topco Ltd increased its stake in ECARX by 329.8% in the 1st quarter. XTX Topco Ltd now owns 105,342 shares of the company’s stock valued at $133,000 after buying an additional 80,833 shares during the last quarter. Finally, MYDA Advisors LLC acquired a new position in shares of ECARX during the 1st quarter worth about $164,000.

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.