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

ECARX Holdings Inc. (NASDAQ:ECX) saw a large growth in short interest in the month of 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. Approximately 2.7% of the shares of the company are sold short. Based on an average trading volume of 3,920,000 shares, the days-to-cover ratio is currently 0.8 days.

ECARX Price Performance

Shares of ECARX stock traded down $0.17 during trading on Tuesday, hitting $0.91. The company’s stock had a trading volume of 23,056,830 shares, compared to its average volume of 1,402,906. ECARX has a 52 week low of $0.76 and a 52 week high of $3.25. The stock has a 50-day moving average price of $1.99 and a two-hundred day moving average price of $1.90. The stock has a market cap of $339.14 million, a price-to-earnings ratio of -1.83 and a beta of 0.47.

Institutional Trading of ECARX

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC bought a new stake in shares of ECARX during the 4th quarter valued at about $207,000. Citadel Advisors LLC bought a new stake in shares of ECARX in the 4th quarter worth about $68,000. Jane Street Group LLC purchased a new position in ECARX during the 4th quarter worth $364,000. Northern Trust Corp boosted its stake in ECARX by 103.8% in the fourth 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. Finally, Two Sigma Securities LLC purchased a new stake in shares of ECARX in the 4th quarter valued at $30,000.

Analyst Ratings Changes

Separately, UBS Group started coverage on ECARX in a report on Tuesday, February 11th. They set a “buy” rating and a $3.20 target price 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.