Short Interest in ECARX Holdings, Inc. (NASDAQ:ECX) Drops By 18.0%

ECARX Holdings, Inc. (NASDAQ:ECX) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 4,402,476 shares, a decline of 18.0% from the March 15th total of 5,371,792 shares. Based on an average daily trading volume, of 3,943,500 shares, the days-to-cover ratio is currently 1.1 days. Currently, 1.5% of the shares of the company are sold short.

Hedge Funds Weigh In On ECARX

Several large investors have recently added to or reduced their stakes in ECX. Integrated Wealth Concepts LLC bought a new stake in shares of ECARX during the third quarter valued at approximately $51,000. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new stake in ECARX during the fourth quarter worth $47,000. Millennium Management LLC acquired a new stake in ECARX during the fourth quarter worth $48,000. Squarepoint Ops LLC bought a new stake in ECARX in the 3rd quarter valued at $59,000. Finally, Caitong International Asset Management Co. Ltd acquired a new position in shares of ECARX in the 4th quarter valued at $58,000.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a report on Wednesday, January 21st. Zacks Research raised ECARX from a “strong sell” rating to a “hold” rating in a research report on Tuesday. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Reduce”.

ECARX Price Performance

ECX stock remained flat at $1.19 on Friday. 669,989 shares of the company were exchanged, compared to its average volume of 3,913,725. The stock has a market capitalization of $424.20 million, a price-to-earnings ratio of -5.95 and a beta of 0.96. ECARX has a fifty-two week low of $0.84 and a fifty-two week high of $2.70. The company has a 50 day simple moving average of $1.34 and a two-hundred day simple moving average of $1.75.

ECARX (NASDAQ:ECX) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.01 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $301.06 million during the quarter, compared to the consensus estimate of $311.90 million. On average, sell-side analysts anticipate that ECARX will post -0.42 earnings per share for the current fiscal year.

ECARX Company Profile

ECARX is a global automotive technology company focused on developing and delivering smart cockpit solutions for original equipment manufacturers (OEMs). The company designs and manufactures a range of in-vehicle computing platforms, central processing units, digital instrument clusters and multimedia infotainment systems. ECARX’s core offerings integrate software, hardware and cloud connectivity to create seamless user experiences for drivers and passengers.

The company’s product portfolio spans telematics control units, over-the-air update frameworks and next-generation human-machine interfaces (HMI).