ECD Automotive Design, Inc. (NASDAQ:ECDA) Sees Large Growth in Short Interest

ECD Automotive Design, Inc. (NASDAQ:ECDA) was the target of a significant growth in short interest during the month of July. As of July 15th, there was short interest totalling 206,600 shares, a growth of 2,548.7% from the June 30th total of 7,800 shares. Currently, 7.5% of the shares of the stock are sold short. Based on an average daily volume of 348,800 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Trading of ECD Automotive Design

Institutional investors have recently modified their holdings of the company. Levin Capital Strategies L.P. acquired a new stake in ECD Automotive Design in the 4th quarter worth approximately $26,000. Context Capital Management LLC acquired a new stake in ECD Automotive Design in the 4th quarter worth approximately $52,000. Finally, ATW Spac Management LLC acquired a new stake in ECD Automotive Design in the 4th quarter worth approximately $191,000. 94.81% of the stock is currently owned by institutional investors.

ECD Automotive Design Price Performance

Shares of ECDA opened at $1.25 on Friday. ECD Automotive Design has a twelve month low of $0.77 and a twelve month high of $17.00. The company’s fifty day simple moving average is $1.12 and its 200-day simple moving average is $1.07.

ECD Automotive Design (NASDAQ:ECDA) last released its quarterly earnings results on Thursday, June 27th. The company reported ($0.05) earnings per share for the quarter. The firm had revenue of $8.31 million for the quarter. On average, research analysts expect that ECD Automotive Design will post -0.13 earnings per share for the current year.

About ECD Automotive Design

ECD Automotive Design, Inc engages in the production and sale of customized Land Rover vehicles in the United States. The company also provides repair or upgrade services and extended warranties to customers. It restores various vehicles, including Land Rovers Defenders, Land Rover Series IIA and III, the Range Rover Classic, and Jaguar E-Type.