ECARX Holdings Inc. (NASDAQ:ECX) Sees Significant Increase in Short Interest

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report) was the recipient of a significant growth in short interest in March. As of March 31st, there was short interest totalling 3,290,000 shares, a growth of 149.2% from the March 15th total of 1,320,000 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average trading volume of 3,920,000 shares, the days-to-cover ratio is presently 0.8 days.

ECARX Stock Performance

ECX traded down $0.04 on Friday, hitting $0.90. 3,651,705 shares of the company were exchanged, compared to its average volume of 1,507,168. ECARX has a fifty-two week low of $0.76 and a fifty-two week high of $3.25. The firm has a market capitalization of $335.18 million, a P/E ratio of -1.81 and a beta of 0.47. The business's fifty day moving average is $1.92 and its 200 day moving average is $1.88.

Institutional Investors Weigh In On ECARX

A number of institutional investors and hedge funds have recently modified their holdings of ECX. Two Sigma Securities LLC purchased a new stake in ECARX during the fourth quarter worth $30,000. Tower Research Capital LLC TRC purchased a new stake in shares of ECARX in the 4th quarter worth about $32,000. XTX Topco Ltd acquired a new stake in ECARX in the 4th quarter valued at about $52,000. Citadel Advisors LLC acquired a new stake in ECARX in the 4th quarter valued at about $68,000. Finally, Northern Trust Corp increased its holdings in ECARX by 103.8% during the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company's stock valued at $172,000 after acquiring an additional 41,568 shares in the last quarter.

Wall Street Analyst Weigh In

Separately, UBS Group assumed coverage on shares of ECARX in a research report on Tuesday, February 11th. They set a "buy" rating and a $3.20 target price on the stock.

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.