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

ECARX Holdings, Inc. (NASDAQ:ECX) was the target of a significant 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. Based on an average daily volume of 2,106,758 shares, the days-to-cover ratio is currently 1.2 days. Currently, 0.9% of the shares of the stock are sold short. Currently, 0.9% of the shares of the stock are sold short. Based on an average daily volume of 2,106,758 shares, the days-to-cover ratio is currently 1.2 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Jane Street Group LLC increased its stake 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 worth $3,973,000 after buying an additional 1,525,093 shares during the period. Tudor Investment Corp ET AL boosted its position in ECARX by 66.7% during the 4th quarter. Tudor Investment Corp ET AL now owns 2,134,089 shares of the company’s stock valued at $3,671,000 after buying an additional 854,139 shares during the period. Renaissance Technologies LLC grew its holdings in ECARX by 56.9% in 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 last quarter. Legal & General Group Plc increased its position in shares of ECARX by 1.4% in the third quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock valued at $2,317,000 after acquiring an additional 16,420 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of ECARX in the third quarter valued at about $2,054,000.

ECARX Stock Performance

ECX traded down $0.03 during midday trading on Friday, hitting $1.12. The stock had a trading volume of 3,216,694 shares, compared to its average volume of 5,646,317. ECARX has a 1 year low of $0.76 and a 1 year high of $3.07. The business has a fifty day moving average of $1.73 and a 200 day moving average of $1.88. The company has a market cap of $415.22 million, a P/E ratio of -5.60 and a beta of 0.77.

ECARX (NASDAQ:ECX) last posted its quarterly earnings results 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 for the quarter, compared to analysts’ expectations of $311.90 million. On average, equities research analysts anticipate that ECARX will post -0.42 earnings per share for the current year.

Analysts Set New Price Targets

ECX has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (e+)” rating on shares of ECARX in a 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 research analysts have rated the stock with a Sell rating, Based on data from MarketBeat, ECARX presently has an average rating of “Sell”.

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).