ECARX Holdings, Inc. (NASDAQ:ECX) Short Interest Update

ECARX Holdings, Inc. (NASDAQ:ECX) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totaling 4,520,000 shares, a decrease of 40.4% from the August 31st total of 7,580,000 shares. Based on an average daily trading volume, of 4,040,000 shares, the short-interest ratio is presently 1.1 days. Approximately 3.6% of the shares of the stock are short sold. Approximately 3.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 4,040,000 shares, the short-interest ratio is presently 1.1 days.

ECARX Stock Performance

ECARX stock opened at $2.28 on Monday. The business’s fifty day moving average is $1.76 and its two-hundred day moving average is $1.64. The firm has a market cap of $845.26 million, a P/E ratio of -6.33 and a beta of 0.71. ECARX has a 52 week low of $0.76 and a 52 week high of $3.25.

ECARX (NASDAQ:ECX) last released its quarterly earnings results on Tuesday, August 26th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $155.30 million during the quarter, compared to analyst estimates of $223.92 million. On average, equities research analysts predict that ECARX will post -0.42 earnings per share for the current year.

Institutional Trading of ECARX

Hedge funds and other institutional investors have recently modified their holdings of the stock. State of Wyoming acquired a new position in ECARX during the 2nd quarter worth $167,000. Tower Research Capital LLC TRC bought a new stake in shares of ECARX during the second quarter worth $71,000. Invesco Ltd. raised its position in shares of ECARX by 5.8% during the second quarter. Invesco Ltd. now owns 253,689 shares of the company’s stock worth $520,000 after acquiring an additional 13,859 shares during the last quarter. Legal & General Group Plc acquired a new position in shares of ECARX during the second quarter valued at $2,341,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in ECARX in the second quarter valued at about $1,722,000.

Analyst Ratings Changes

ECX has been the topic of a number of analyst reports. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a research report on Saturday, September 27th. Wall Street Zen cut shares of ECARX from a “hold” rating to a “sell” rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $3.20.

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.