Short Interest in ECARX Holdings, Inc. (NASDAQ:ECX) Expands By 13.5%

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. Currently, 1.8% of the shares of the company are sold short. Based on an average daily volume of 832,745 shares, the short-interest ratio is presently 6.0 days.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ECX shares. Weiss Ratings restated a “sell (e+)” rating on shares of ECARX in a research note on Monday, April 20th. Zacks Research upgraded shares of ECARX from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, ECARX presently has a consensus rating of “Reduce”.

ECARX Trading Up 2.8%

Shares of NASDAQ:ECX traded up $0.03 on Friday, reaching $1.10. 515,060 shares of the company’s stock were exchanged, compared to its average volume of 910,441. The company has a fifty day moving average of $1.23 and a 200-day moving average of $1.68. ECARX has a twelve month low of $0.88 and a twelve month high of $2.70. The company has a market capitalization of $392.12 million, a price-to-earnings ratio of -5.50 and a beta of 0.98.

ECARX (NASDAQ:ECX) last announced its earnings results on Thursday, February 12th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The business had revenue of $301.06 million for the quarter, compared to analyst estimates of $311.90 million. As a group, equities research analysts forecast that ECARX will post -0.04 EPS for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Commonwealth of Pennsylvania Public School Empls Retrmt SYS acquired a new position in shares of ECARX during the 4th quarter worth approximately $47,000. Millennium Management LLC acquired a new position in shares of ECARX during the 4th quarter worth approximately $48,000. Integrated Wealth Concepts LLC bought a new stake in shares of ECARX during the 3rd quarter worth approximately $51,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of ECARX during the 4th quarter worth approximately $58,000. Finally, Squarepoint Ops LLC bought a new stake in shares of ECARX during the 3rd quarter worth approximately $59,000.

About ECARX

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).