ECARX Holdings Inc. (NASDAQ:ECX) Short Interest Up 122.3% in March

ECARX Holdings Inc. (NASDAQ:ECX) saw a significant growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,320,000 shares, a growth of 122.3% from the February 28th total of 593,900 shares. Currently, 1.2% of the shares of the company are sold short. Based on an average trading volume of 2,480,000 shares, the days-to-cover ratio is presently 0.5 days.

Wall Street Analysts Forecast Growth

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

ECARX Stock Down 33.6 %

ECX stock opened at $1.50 on Friday. The business’s 50-day simple moving average is $2.18 and its 200 day simple moving average is $1.97. The company has a market cap of $506.93 million, a PE ratio of -3.00 and a beta of 0.23. ECARX has a twelve month low of $0.96 and a twelve month high of $3.25.

Institutional Trading of ECARX

Several institutional investors have recently modified their holdings of ECX. Two Sigma Securities LLC bought a new position in ECARX in the fourth quarter worth $30,000. Tower Research Capital LLC TRC acquired a new position in shares of ECARX in the 4th quarter valued at $32,000. XTX Topco Ltd bought a new position in shares of ECARX during the 4th quarter worth about $52,000. Citadel Advisors LLC acquired a new stake in shares of ECARX during the 4th quarter valued at about $68,000. Finally, Northern Trust Corp increased its stake in ECARX by 103.8% in the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after acquiring an additional 41,568 shares during the period.

ECARX Company Profile

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.