ECARX Holdings Inc. (NASDAQ:ECX) Short Interest Up 122.3% in March

ECARX Holdings Inc. (NASDAQ:ECX) saw a significant increase in short interest in 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 stock are sold short. Based on an average daily volume of 2,480,000 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On ECARX

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

Wall Street Analyst Weigh In

Separately, UBS Group initiated coverage on shares of ECARX in a research note on Tuesday, February 11th. They set a “buy” rating and a $3.20 price target on the stock.

ECARX Stock Performance

NASDAQ ECX traded down $0.76 during trading hours on Friday, reaching $1.50. 37,319,379 shares of the company’s stock were exchanged, compared to its average volume of 919,468. The company has a market capitalization of $506.93 million, a price-to-earnings ratio of -3.00 and a beta of 0.23. The company’s 50-day moving average is $2.18 and its two-hundred day moving average is $1.97. ECARX has a one year low of $0.96 and a one year high of $3.25.

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.