ECARX Holdings, Inc. (NASDAQ:ECX) Short Interest Update

ECARX Holdings, Inc. (NASDAQ:ECX) was the target of a significant increase in short interest in the month of March. As of March 13th, there was short interest totaling 5,371,792 shares, an increase of 109.9% from the February 26th total of 2,559,323 shares. Currently, 1.8% of the company’s stock are short sold. Based on an average daily volume of 9,114,344 shares, the days-to-cover ratio is presently 0.6 days.

ECARX Stock Performance

Shares of NASDAQ:ECX traded up $0.02 during trading on Thursday, reaching $0.94. 472,541 shares of the stock traded hands, compared to its average volume of 4,651,566. The stock has a market cap of $346.63 million, a P/E ratio of -4.68 and a beta of 0.77. The stock has a 50-day moving average of $1.61 and a two-hundred day moving average of $1.85. ECARX has a 52-week low of $0.76 and a 52-week high of $2.70.

ECARX (NASDAQ:ECX) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.01 earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.03) by $0.04. The business had revenue of $301.06 million during the quarter, compared to the consensus estimate of $311.90 million. Sell-side analysts expect that ECARX will post -0.42 earnings per share for the current year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on ECX shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of ECARX in a report on Wednesday, January 21st. Zacks Research downgraded ECARX from a “hold” rating to a “strong sell” rating in a report on Wednesday, February 18th. Two analysts have rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Hedge Funds Weigh In On ECARX

A number of hedge funds have recently bought and sold shares of ECX. Commonwealth of Pennsylvania Public School Empls Retrmt SYS bought a new position in ECARX during the 4th quarter valued at about $47,000. Millennium Management LLC purchased a new position in shares of ECARX during the fourth quarter valued at approximately $48,000. Integrated Wealth Concepts LLC bought a new position in ECARX during the third quarter valued at approximately $51,000. Caitong International Asset Management Co. Ltd purchased a new stake in ECARX in the fourth quarter worth approximately $58,000. Finally, Squarepoint Ops LLC purchased a new stake in ECARX in the third quarter worth approximately $59,000.

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).