ECARX (NASDAQ:ECX) Shares Down 6.8%

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

ECARX Trading Up 1.3 %

The stock’s fifty day simple moving average is $2.23 and its 200-day simple moving average is $2.76. The stock has a market capitalization of $540.72 million, a PE ratio of -4.21 and a beta of 0.13.

ECARX (NASDAQ:ECX) last issued its quarterly earnings results on Wednesday, February 28th. The company reported ($0.12) earnings per share for the quarter. The company had revenue of $263.10 million for the quarter. As a group, analysts anticipate that ECARX Holdings Inc. will post -0.27 earnings per share for the current fiscal year.

Hedge Funds Weigh In On ECARX

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Schonfeld Strategic Advisors LLC purchased a new position in shares of ECARX in the 3rd quarter worth about $51,000. Altshuler Shaham Ltd bought a new position in ECARX during the fourth quarter worth about $59,000. JPMorgan Chase & Co. bought a new position in ECARX during the second quarter worth about $72,000. Goldman Sachs Group Inc. bought a new position in ECARX during the second quarter worth about $102,000. Finally, Northern Trust Corp bought a new position in ECARX during the fourth quarter worth about $161,000.

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.