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

ECARX Holdings, Inc. (NASDAQ:ECX) saw a large growth in short interest during the month of April. As of April 15th, there was short interest totaling 4,997,146 shares, a growth of 13.5% from the March 31st total of 4,402,476 shares. Based on an average daily volume of 832,745 shares, the short-interest ratio is currently 6.0 days. Currently, 1.8% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

ECX has been the topic of several research reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a research report on Monday, April 20th. Zacks Research raised shares of ECARX from a “strong sell” rating to a “hold” rating in a research report on Tuesday, April 14th. One investment analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, ECARX presently has an average rating of “Reduce”.

Institutional Trading of ECARX

Several hedge funds have recently made changes to their positions in ECX. Jane Street Group LLC lifted its stake in shares of ECARX by 194.3% in the 4th quarter. Jane Street Group LLC now owns 2,309,869 shares of the company’s stock worth $3,973,000 after acquiring an additional 1,525,093 shares during the period. Tudor Investment Corp ET AL lifted its stake in shares of ECARX by 430.1% in the 3rd quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company’s stock worth $2,573,000 after acquiring an additional 1,038,476 shares during the period. Citadel Advisors LLC acquired a new stake in shares of ECARX in the 3rd quarter worth $2,054,000. Renaissance Technologies LLC lifted its stake in shares of ECARX by 56.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,842,100 shares of the company’s stock worth $3,168,000 after acquiring an additional 667,800 shares during the period. Finally, HRT Financial LP acquired a new stake in shares of ECARX in the 4th quarter worth $500,000.

ECARX Stock Performance

Shares of ECARX stock opened at $1.10 on Friday. ECARX has a 1 year low of $0.88 and a 1 year high of $2.70. The company has a market capitalization of $392.12 million, a P/E ratio of -5.50 and a beta of 0.98. The company’s fifty day moving average is $1.23 and its two-hundred day moving average is $1.68.

ECARX (NASDAQ:ECX) last released 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 during the quarter, compared to analyst estimates of $311.90 million. As a group, equities analysts expect that ECARX will post -0.04 earnings per share 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).