Short Interest in ECARX Holdings Inc. (NASDAQ:ECX) Increases By 122.3%

ECARX Holdings Inc. (NASDAQ:ECX) saw a significant increase in short interest during the month of March. As of March 15th, there was short interest totalling 1,320,000 shares, an increase of 122.3% from the February 28th total of 593,900 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average daily volume of 2,480,000 shares, the days-to-cover ratio is presently 0.5 days.

ECARX Price Performance

Shares of ECARX stock traded down $0.76 during midday trading on Friday, hitting $1.50. The company had a trading volume of 37,319,379 shares, compared to its average volume of 919,468. The stock has a market cap of $506.93 million, a PE ratio of -3.00 and a beta of 0.23. ECARX has a 1-year low of $0.96 and a 1-year high of $3.25. The business’s 50 day simple moving average is $2.18 and its two-hundred day simple moving average is $1.97.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on ECARX in a research report on Tuesday, February 11th. They set a “buy” rating and a $3.20 price objective for the company.

Institutional Investors Weigh In On ECARX

Institutional investors have recently bought and sold shares of the business. Two Sigma Securities LLC bought a new stake in shares of ECARX in the 4th quarter valued at approximately $30,000. Tower Research Capital LLC TRC bought a new stake in ECARX in the fourth quarter valued at $32,000. XTX Topco Ltd acquired a new position in ECARX during the fourth quarter worth $52,000. Citadel Advisors LLC bought a new position in shares of ECARX during the fourth quarter valued at $68,000. Finally, Green Alpha Advisors LLC acquired a new stake in shares of ECARX in the 4th quarter valued at $167,000.

ECARX Company Profile

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.