ECARX (NASDAQ:ECX) Stock: Insider Ziyu Shen Acquires 300,000 Shares

ECARX Holdings, Inc. (NASDAQ:ECX) CEO Ziyu Shen bought 300,000 shares of the stock in a transaction on Wednesday, November 11th. The shares were acquired at an average cost of $0.78 per share, for a total transaction of $234,000.00. Following the purchase, the chief executive officer owned 300,000 shares in the company, valued at $234,000. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

ECARX Stock Down 1.7%

Shares of ECARX stock traded down $0.01 during trading hours on Friday, reaching $0.81. 329,202 shares of the company’s stock were exchanged, compared to its average volume of 952,453. The business has a fifty day moving average of $0.93 and a two-hundred day moving average of $1.15. The company has a market capitalization of $288.88 million, a P/E ratio of -4.50 and a beta of 1.07. ECARX Holdings, Inc. has a 1 year low of $0.67 and a 1 year high of $2.34.

ECARX (NASDAQ:ECX) last posted its quarterly earnings results on Wednesday, November 4th. The company reported ($0.13) earnings per share for the quarter, missing the consensus estimate of $0.01 by ($0.14). The firm had revenue of $240.80 million for the quarter, compared to analysts’ expectations of $315.22 million. As a group, research analysts predict that ECARX Holdings, Inc. will post -0.02 EPS for the current year.

Institutional Trading of ECARX

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

Wall Street Analysts Forecast Growth

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

About ECARX

ECARX Holdings Inc. is an automotive technology company that develops hardware and software for connected and intelligent vehicles. Founded in 2017, the company supplies automotive manufacturers with computing platforms and systems designed to support in-vehicle digital experiences and vehicle functions. Its products and services include digital cockpit systems, infotainment and instrument-cluster solutions, vehicle computing platforms, and technologies for intelligent driving and connectivity. ECARX provides components and software that automakers can integrate into vehicle architectures.