ECARX Holdings Inc. (NASDAQ:ECX) Short Interest Up 122.3% in March

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report) was the recipient of a large increase in short interest in March. As of March 15th, there was short interest totalling 1,320,000 shares, an increase of 122.3% from the February 28th total of 593,900 shares. Approximately 1.2% of the company's stock are sold short. Based on an average daily volume of 2,480,000 shares, the short-interest ratio is currently 0.5 days.

ECARX Price Performance

NASDAQ:ECX traded down $0.02 during trading hours on Tuesday, reaching $1.24. 13,009,258 shares of the stock were exchanged, compared to its average volume of 999,376. ECARX has a twelve month low of $0.96 and a twelve month high of $3.25. The stock has a market cap of $419.06 million, a PE ratio of -2.48 and a beta of 0.23. The firm has a 50 day moving average of $2.15 and a 200 day moving average of $1.97.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ECX. Two Sigma Securities LLC bought a new stake in ECARX during the 4th quarter worth about $30,000. Tower Research Capital LLC TRC acquired a new stake in shares of ECARX in the fourth quarter valued at about $32,000. XTX Topco Ltd bought a new stake in ECARX during the fourth quarter worth about $52,000. Citadel Advisors LLC bought a new stake in ECARX during the fourth quarter worth about $68,000. Finally, Northern Trust Corp boosted its position in ECARX by 103.8% during the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company's stock valued at $172,000 after purchasing an additional 41,568 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

About ECARX

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.