ECARX Holdings, Inc. (NASDAQ:ECX) Short Interest Down 28.7% in February

ECARX Holdings, Inc. (NASDAQ:ECX) was the target of a large decline in short interest during the month of February. As of February 27th, there was short interest totaling 2,559,323 shares, a decline of 28.7% from the February 12th total of 3,590,910 shares. Approximately 0.9% of the shares of the company are short sold. Based on an average trading volume of 2,106,758 shares, the days-to-cover ratio is presently 1.2 days. Based on an average trading volume of 2,106,758 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.9% of the shares of the company are short sold.

ECARX Trading Down 2.6%

Shares of NASDAQ:ECX traded down $0.03 during trading on Friday, reaching $1.12. 3,216,694 shares of the stock were exchanged, compared to its average volume of 5,646,317. ECARX has a 12 month low of $0.76 and a 12 month high of $3.07. The firm has a market cap of $415.22 million, a PE ratio of -5.60 and a beta of 0.77. The stock has a 50-day moving average price of $1.73 and a 200-day moving average price of $1.88.

ECARX (NASDAQ:ECX) last announced its earnings results on Thursday, February 12th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.03) by $0.04. The firm had revenue of $301.06 million for the quarter, compared to the consensus estimate of $311.90 million. On average, sell-side analysts expect that ECARX will post -0.42 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a report on Wednesday, January 21st. Zacks Research lowered shares of ECARX from a “hold” rating to a “strong sell” rating in a research report on Wednesday, February 18th. Two equities research analysts have rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.

Institutional Investors Weigh In On ECARX

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