5 Best Falling Stocks To Buy Now

This article presents an overview of the 5 Best Falling Stocks To Buy Now. For a detailed overview of such stocks, read our article, 15 Best Falling Stocks To Buy Now.

5. Ecarx Holdings Inc. (NASDAQ:ECX)

Number of Hedge Fund Investors: 19

Automotive computing platform company Ecarx Holdings Inc. (NASDAQ:ECX) ranks 5th in our list of the best falling stocks to buy now.

A total of 19 hedge funds had ECX shares in their portfolios as of the end of the third quarter of 2023.

Ecarx Holdings Inc. (NASDAQ:ECX) talked about future business expectations during Q3 earnings call:

Second, our global expansion into Europe and the United States, where we are taking into growing demand as OEMs transition towards new EVs and we are assessing a truly global talent pool. Adjusted EBITDA loss was RMB179 million, an improvement from the loss of RMB181 million last year. This is a slight improvement but we need to be aware that such results has already included our accelerated R&D investment in ADAS solutions and the GCAR, the JV with the July Group. If we take out the loss from JV, the profit could be improved by around RMB50 million in quarter 3. However, we certainly believe the investment in ADAS solutions is worthwhile and it will empower our long-term growth. The performance of the ADAS product on Lincon O08 is quite impressive at kind of example.

The loss per share also improved year-over-year from RMB1.48% to 0.79%. This is mainly attributed to the revenue growth in computing platform products, gross margin improvement and operating cost control. Cost control did not impede our investments in advanced technology development and global expansion. Moving on to our balance sheet. At quarter end, we had RMB688 million of cash and restricted cash. With a solid foundation for growth now in place, we expect to allocate additional capital to accelerating our growth trajectory. Maintaining a solid balance sheet is of paramount importance. So we will focus on improving operating efficiency across our supply chain, inventory and cash flow. Looking forward, we will maintain our operational focus on optimizing efficiency and cost management while allocating resources towards opportunities that can enhance future growth projects and drive innovation.

Read the entire earnings call transcript here.