Key Points
- ECARX CEO Ziyu Shen bought 300,000 shares for $234,000, paying an average of $0.78 per share; the SEC filing said he directly owned 300,000 shares after the transaction.
- ECARX missed quarterly expectations, reporting a loss of $0.13 per share versus analysts’ expected $0.01 profit, and revenue of $240.8 million versus a $315.22 million consensus estimate.
- The stock was trading at $0.81, within a 12-month range of $0.67–$2.34. Analysts’ consensus rating was “Reduce,” with one Hold and one Sell rating reported.
ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) CEO Ziyu Shen purchased 300,000 shares of the company's stock in a transaction dated Wednesday, November 11th. The stock was bought at an average price of $0.78 per share, with a total value of $234,000.00. Following the completion of the transaction, the chief executive officer directly owned 300,000 shares of the company's stock, valued at approximately $234,000. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
ECARX Price Performance
Shares of NASDAQ:ECX traded down $0.01 during midday trading on Friday, hitting $0.81. The company had a trading volume of 329,202 shares, compared to its average volume of 952,453. ECARX Holdings, Inc. has a twelve month low of $0.67 and a twelve month high of $2.34. The stock has a market cap of $288.88 million, a price-to-earnings ratio of -4.50 and a beta of 1.07. The business's 50-day simple moving average is $0.93 and its 200-day simple moving average is $1.15.
ECARX (NASDAQ:ECX - Get Free Report) last released its quarterly earnings data on Wednesday, November 4th. The company reported ($0.13) earnings per share for the quarter, missing analysts' consensus estimates of $0.01 by ($0.14). The business had revenue of $240.80 million during the quarter, compared to the consensus estimate of $315.22 million. As a group, sell-side analysts forecast that ECARX Holdings, Inc. will post -0.02 EPS for the current year.
Wall Street Analyst Weigh In
Separately, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ECARX in a research note on Thursday, October 15th. One investment analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Reduce".
Check Out Our Latest Stock Report on ECARX
Hedge Funds Weigh In On ECARX
A number of institutional investors have recently bought and sold shares of ECX. Renaissance Technologies LLC boosted its holdings in ECARX by 9.4% in the 1st quarter. Renaissance Technologies LLC now owns 2,015,600 shares of the company's stock valued at $1,971,000 after purchasing an additional 173,500 shares during the last quarter. Themes Management Co LLC grew its stake in shares of ECARX by 44.9% in the 1st quarter. Themes Management Co LLC now owns 102,625 shares of the company's stock valued at $100,000 after buying an additional 31,801 shares during the period. Finally, State of Wyoming increased its holdings in shares of ECARX by 621.4% during the 1st quarter. State of Wyoming now owns 51,897 shares of the company's stock worth $51,000 after buying an additional 44,703 shares during the last quarter.
About ECARX
(
Get Free Report)
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.
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