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

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report) was the target of a significant increase in short interest in January. As of January 31st, there was short interest totalling 491,700 shares, an increase of 67.0% from the January 15th total of 294,400 shares. Approximately 0.4% of the company's stock are sold short. Based on an average daily volume of 801,000 shares, the days-to-cover ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Two Sigma Securities LLC bought a new position in shares of ECARX in the 4th quarter valued at about $30,000. Tower Research Capital LLC TRC bought a new position in ECARX during the fourth quarter worth about $32,000. XTX Topco Ltd acquired a new position in ECARX during the fourth quarter worth approximately $52,000. Citadel Advisors LLC bought a new stake in ECARX in the fourth quarter valued at approximately $68,000. Finally, Green Alpha Advisors LLC acquired a new stake in shares of ECARX in the fourth quarter valued at approximately $167,000.

ECARX Stock Down 3.7 %

Shares of NASDAQ:ECX traded down $0.08 during midday trading on Wednesday, reaching $1.98. The company had a trading volume of 1,762,573 shares, compared to its average volume of 1,398,466. The business's 50 day moving average price is $1.91 and its 200 day moving average price is $1.83. ECARX has a 1-year low of $0.96 and a 1-year high of $2.95. The stock has a market cap of $667.45 million, a PE ratio of -3.99 and a beta of 0.31.

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.