ECARX (NASDAQ:ECX) Shares Gap Down – Should You Sell?

Shares of ECARX Holdings, Inc. (NASDAQ:ECX) gapped down before the market opened on Wednesday . The stock had previously closed at $2.16, but opened at $2.07. ECARX shares last traded at $2.2450, with a volume of 1,390,370 shares.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on ECX. Wall Street Zen raised shares of ECARX from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $3.20.

ECARX Stock Performance

The company has a market cap of $789.65 million, a price-to-earnings ratio of -9.68 and a beta of 0.74. The firm’s 50 day simple moving average is $2.17 and its 200-day simple moving average is $1.85.

ECARX (NASDAQ:ECX) last issued its earnings results on Tuesday, August 26th. The company reported ($0.13) EPS for the quarter. The firm had revenue of $155.30 million for the quarter, compared to analyst estimates of $223.92 million. As a group, sell-side analysts expect that ECARX Holdings, Inc. will post -0.42 EPS for the current fiscal year.

Institutional Trading of ECARX

Hedge funds and other institutional investors have recently made changes to their positions in the company. Deutsche Bank AG purchased a new stake in shares of ECARX during the 1st quarter valued at approximately $3,722,000. Valliance Asset Management Ltd acquired a new stake in ECARX during the first quarter worth $2,252,000. Legal & General Group Plc purchased a new stake in ECARX in the second quarter valued at $2,341,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of ECARX in the 2nd quarter valued at $1,722,000. Finally, Jane Street Group LLC lifted its stake in shares of ECARX by 234.4% in the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock valued at $726,000 after purchasing an additional 404,119 shares during the last quarter.

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.