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

ECARX Holdings, Inc. (NASDAQ:ECX) was the recipient of a significant increase in short interest during 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. Approximately 1.8% of the shares of the company are sold short. Based on an average daily trading volume, of 9,114,344 shares, the days-to-cover ratio is presently 0.6 days.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Jane Street Group LLC raised its position in shares of ECARX by 194.3% in the fourth quarter. Jane Street Group LLC now owns 2,309,869 shares of the company’s stock valued at $3,973,000 after buying an additional 1,525,093 shares in the last quarter. Tudor Investment Corp ET AL grew its position in ECARX by 66.7% during the fourth quarter. Tudor Investment Corp ET AL now owns 2,134,089 shares of the company’s stock worth $3,671,000 after buying an additional 854,139 shares in the last quarter. Renaissance Technologies LLC increased its stake in ECARX by 56.9% during the 4th quarter. Renaissance Technologies LLC now owns 1,842,100 shares of the company’s stock worth $3,168,000 after acquiring an additional 667,800 shares during the period. Legal & General Group Plc increased its stake in ECARX by 1.4% during the 3rd quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock worth $2,317,000 after acquiring an additional 16,420 shares during the period. Finally, Citadel Advisors LLC acquired a new position in ECARX in the 3rd quarter valued at $2,054,000.

ECARX Stock Up 4.8%

Shares of NASDAQ ECX traded up $0.04 during mid-day trading on Friday, reaching $0.97. 1,688,496 shares of the company were exchanged, compared to its average volume of 4,609,381. The stock has a market capitalization of $357.83 million, a P/E ratio of -4.83 and a beta of 0.77. The company’s 50-day simple moving average is $1.59 and its 200-day simple moving average is $1.85. ECARX has a twelve month low of $0.76 and a twelve month high of $2.70.

ECARX (NASDAQ:ECX) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.03) by $0.04. The company had revenue of $301.06 million during the quarter, compared to analyst estimates of $311.90 million. As a group, equities research analysts expect that ECARX will post -0.42 EPS for the current year.

Analyst Ratings Changes

ECX has been the subject of a number of recent analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research report on Wednesday, January 21st. Zacks Research cut ECARX from a “hold” rating to a “strong sell” rating in a research note on Wednesday, February 18th. Two analysts have rated the stock with a Sell rating, Based on data from MarketBeat.com, ECARX presently has an average rating of “Sell”.

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).