ECD Automotive Design, Inc. (NASDAQ:ECDA) Sees Significant Growth in Short Interest

ECD Automotive Design, Inc. (NASDAQ:ECDA) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 75,400 shares, an increase of 808.4% from the March 31st total of 8,300 shares. Currently, 3.1% of the company’s shares are sold short. Based on an average daily trading volume, of 66,000 shares, the short-interest ratio is presently 1.1 days.

Wall Street Analysts Forecast Growth

Separately, Litchfield Hills Research restated a “buy” rating and set a $9.00 target price on shares of ECD Automotive Design in a report on Tuesday, January 30th.

ECD Automotive Design Trading Down 2.6 %

NASDAQ:ECDA opened at $1.12 on Friday. ECD Automotive Design has a fifty-two week low of $0.77 and a fifty-two week high of $17.00. The company’s 50-day simple moving average is $1.01.

Hedge Funds Weigh In On ECD Automotive Design

Several institutional investors have recently modified their holdings of ECDA. Levin Capital Strategies L.P. bought a new position in shares of ECD Automotive Design during the 4th quarter valued at about $26,000. Context Capital Management LLC bought a new position in shares of ECD Automotive Design during the 4th quarter valued at about $52,000. Finally, ATW Spac Management LLC bought a new position in shares of ECD Automotive Design during the 4th quarter valued at about $191,000. Institutional investors own 94.81% of the company’s stock.

About ECD Automotive Design

ECD Automotive Design, Inc engages in the production and sale of customized Land Rover vehicles in the United States. The company also provides repair or upgrade services and extended warranties to customers. It restores various vehicles, including Land Rovers Defenders, Land Rover Series IIA and III, the Range Rover Classic, and Jaguar E-Type.