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

ECARX Holdings, Inc. (NASDAQ:ECX) was the recipient of a significant increase in short interest in March. As of March 13th, there was short interest totaling 5,371,792 shares, an increase of 109.9% from the February 26th total of 2,559,323 shares. Based on an average daily trading volume, of 9,114,344 shares, the days-to-cover ratio is currently 0.6 days. Approximately 1.8% of the company’s stock are sold short.

Institutional Investors Weigh In On ECARX

Several institutional investors and hedge funds have recently bought and sold shares of the company. Hsbc Holdings PLC bought a new stake in shares of ECARX during the 4th quarter worth approximately $99,000. Caitong International Asset Management Co. Ltd bought a new position in shares of ECARX in the 4th quarter valued at $175,000. Alpine Global Management LLC bought a new position in shares of ECARX in the 4th quarter valued at $200,000. Virtu Financial LLC acquired a new stake in shares of ECARX during the 4th quarter valued at $154,000. Finally, Susquehanna Portfolio Strategies LLC bought a new stake in ECARX during the 4th quarter worth $296,000.

Analyst Ratings Changes

Several brokerages have recently issued reports on ECX. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Zacks Research lowered shares of ECARX from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Two equities research analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

ECARX Stock Performance

Shares of ECARX stock opened at $0.97 on Friday. ECARX has a 52-week low of $0.76 and a 52-week high of $2.70. The business’s 50 day simple moving average is $1.57 and its 200 day simple moving average is $1.84. The firm has a market cap of $357.83 million, a PE ratio of -4.83 and a beta of 0.77.

ECARX (NASDAQ:ECX) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate 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. As a group, equities research analysts predict that ECARX will post -0.42 EPS for the current 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).