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

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

Institutional Investors Weigh In On ECARX

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

Analysts Set New Price Targets

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

ECARX Trading Down 33.6 %

NASDAQ ECX traded down $0.76 on Friday, reaching $1.50. 37,319,379 shares of the stock were exchanged, compared to its average volume of 916,781. The firm has a market capitalization of $506.93 million, a PE ratio of -3.00 and a beta of 0.23. ECARX has a one year low of $0.96 and a one year high of $3.25. The company’s 50-day simple moving average is $2.19 and its two-hundred day simple moving average is $1.97.

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.