ECARX Holdings, Inc. (NASDAQ:ECX) Sees Significant Increase in Short Interest

by · The Markets Daily

ECARX Holdings, Inc. (NASDAQ:ECX – Get Free Report) was the recipient of a large increase in short interest during the month of January. As of January 30th, there was short interest totaling 4,043,999 shares, an increase of 35.9% from the January 15th total of 2,974,914 shares. Based on an average daily volume of 5,407,783 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.4% of the company’s shares are sold short. Approximately 1.4% of the company’s shares are sold short. Based on an average daily volume of 5,407,783 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Trading of ECARX

A number of large investors have recently added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in shares of ECARX during the 4th quarter valued at approximately $47,000. Integrated Wealth Concepts LLC bought a new position in ECARX in the 3rd quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd purchased a new position in ECARX in the 4th quarter valued at approximately $58,000. Squarepoint Ops LLC bought a new stake in ECARX during the 3rd quarter valued at $59,000. Finally, SG Americas Securities LLC raised its holdings in ECARX by 117.9% during the 4th quarter. SG Americas Securities LLC now owns 40,000 shares of the company’s stock valued at $69,000 after acquiring an additional 21,646 shares during the period.

Analysts Set New Price Targets

A number of brokerages have commented on ECX. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Wall Street Zen upgraded ECARX from a “sell” rating to a “hold” rating in a research report on Saturday, November 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

View Our Latest Report on ECARX

ECARX Stock Up 2.1%

NASDAQ ECX traded up $0.04 on Tuesday, reaching $1.69. The company had a trading volume of 993,524 shares, compared to its average volume of 3,700,855. ECARX has a 52-week low of $0.76 and a 52-week high of $3.25. The stock has a market capitalization of $624.68 million, a P/E ratio of -8.43 and a beta of 0.76. The company’s fifty day moving average is $1.79 and its 200 day moving average is $1.89.

ECARX (NASDAQ:ECX – Get Free Report) last posted its earnings results on Thursday, February 12th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.03) by $0.04. The firm had revenue of $301.06 million for the quarter, compared to the consensus estimate of $311.90 million. On average, research analysts expect that ECARX will post -0.42 EPS for the current year.

ECARX Company Profile

(Get Free Report)

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).

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