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

ECARX Holdings Inc. (NASDAQ:ECX) saw a significant increase in short interest in February. As of February 28th, there was short interest totalling 593,900 shares, an increase of 576.4% from the February 13th total of 87,800 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 1,730,000 shares, the days-to-cover ratio is presently 0.3 days.

Wall Street Analyst Weigh In

Separately, UBS Group initiated coverage on shares of ECARX in a report on Tuesday, February 11th. They issued a “buy” rating and a $3.20 target price for the company.

ECARX Stock Down 15.5 %

Shares of NASDAQ ECX traded down $0.50 during trading hours on Thursday, hitting $2.75. 554,643 shares of the stock were exchanged, compared to its average volume of 2,237,021. The company has a market cap of $928.01 million, a PE ratio of -5.59 and a beta of 0.22. ECARX has a 12 month low of $0.96 and a 12 month high of $3.25. The firm has a fifty day moving average price of $2.05 and a 200-day moving average price of $1.91.

Institutional Trading of ECARX

A number of institutional investors have recently made changes to their positions in ECX. Millennium Management LLC purchased a new position in ECARX in the 4th quarter worth $207,000. Citadel Advisors LLC acquired a new stake in shares of ECARX during the fourth quarter worth about $68,000. Jane Street Group LLC purchased a new stake in ECARX in the fourth quarter valued at approximately $364,000. Northern Trust Corp increased its holdings in ECARX by 103.8% in the 4th quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock worth $172,000 after buying an additional 41,568 shares during the period. Finally, Two Sigma Securities LLC acquired a new position in ECARX in the 4th quarter worth approximately $30,000.

About ECARX

ECARX Holdings Inc develops a full stack automotive computing platform to shape the interaction between people and cars by rapidly advancing the technology by smart mobility worldwide. It offers system on chips, central computing platforms, operating systems, and software. Its core products include infotainment head units, digital cockpits, vehicle chip-set solutions, core operating system, and integrated software stack.