ECARX (NASDAQ:ECX) Stock Price Down 4.8% – Here’s What Happened

Shares of ECARX Holdings Inc. (NASDAQ:ECX) dropped 4.8% during trading on Wednesday . The stock traded as low as $1.68 and last traded at $1.68. Approximately 267,838 shares changed hands during trading, a decline of 80% from the average daily volume of 1,318,012 shares. The stock had previously closed at $1.76.

ECARX Stock Down 4.8 %

The stock’s 50-day moving average price is $1.91 and its 200 day moving average price is $1.81. The company has a market cap of $566.07 million, a P/E ratio of -3.35 and a beta of 0.35.

ECARX (NASDAQ:ECX) last announced its earnings results on Thursday, November 7th. The company reported ($0.14) EPS for the quarter. The company had revenue of $203.10 million for the quarter. During the same period in the prior year, the firm posted ($0.26) EPS. Analysts expect that ECARX Holdings Inc. will post -0.42 earnings per share for the current fiscal year.

Institutional Investors Weigh In On ECARX

A hedge fund recently bought a new stake in ECARX stock. Green Alpha Advisors LLC purchased a new stake in ECARX Holdings Inc. (NASDAQ:ECX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 78,996 shares of the company’s stock, valued at approximately $167,000.

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.