ECARX (NASDAQ:ECX) Shares Down 6.8%

Shares of ECARX Holdings Inc. (NASDAQ:ECX) traded down 6.8% during mid-day trading on Tuesday . The company traded as low as $1.55 and last traded at $1.57. 21,788 shares traded hands during trading, a decline of 74% from the average session volume of 84,928 shares. The stock had previously closed at $1.68.

ECARX Stock Up 1.3 %

The stock’s 50-day moving average price is $2.23 and its 200-day moving average price is $2.76. The company has a market capitalization of $540.72 million, a price-to-earnings ratio of -4.21 and a beta of 0.13.

ECARX (NASDAQ:ECX) last announced its earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share (EPS) for the quarter. The firm had revenue of $263.10 million for the quarter. On average, equities research analysts anticipate that ECARX Holdings Inc. will post -0.27 EPS for the current year.

Institutional Investors Weigh In On ECARX

A number of institutional investors and hedge funds have recently modified their holdings of the business. Northern Trust Corp bought a new stake in shares of ECARX during the fourth quarter worth approximately $161,000. Schonfeld Strategic Advisors LLC bought a new stake in ECARX in the third quarter valued at approximately $51,000. Invesco Ltd. increased its stake in ECARX by 2.6% in the third quarter. Invesco Ltd. now owns 270,982 shares of the company’s stock valued at $840,000 after purchasing an additional 6,793 shares in the last quarter. Goldman Sachs Group Inc. bought a new stake in ECARX in the second quarter valued at approximately $102,000. Finally, Geode Capital Management LLC increased its stake in ECARX by 38.7% in the second quarter. Geode Capital Management LLC now owns 100,990 shares of the company’s stock valued at $703,000 after purchasing an additional 28,184 shares in the last quarter.

About ECARX

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.