ECARX Holdings Inc. (NASDAQ:ECX) Short Interest Up 149.2% in March

ECARX Holdings Inc. (NASDAQ:ECX) saw a significant growth in short interest during the month of March. As of March 31st, there was short interest totalling 3,290,000 shares, a growth of 149.2% from the March 15th total of 1,320,000 shares. Approximately 2.7% of the shares of the stock are sold short. Based on an average daily volume of 3,920,000 shares, the short-interest ratio is presently 0.8 days.

Hedge Funds Weigh In On ECARX

Hedge funds have recently modified their holdings of the stock. Green Alpha Advisors LLC acquired a new stake in ECARX during the fourth quarter worth approximately $167,000. Virtu Financial LLC purchased a new stake in ECARX during the 4th quarter valued at about $319,000. Millennium Management LLC purchased a new stake in ECARX in the fourth quarter worth $207,000. Citadel Advisors LLC bought a new stake in ECARX during the fourth quarter worth about $68,000. Finally, Northern Trust Corp grew its holdings in shares of ECARX by 103.8% during the fourth quarter. Northern Trust Corp now owns 81,616 shares of the company’s stock valued at $172,000 after buying an additional 41,568 shares during the last quarter.

Wall Street Analysts Forecast Growth

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

ECARX Price Performance

Shares of ECX stock traded down $0.17 during trading on Tuesday, reaching $0.91. The company had a trading volume of 23,056,830 shares, compared to its average volume of 1,402,906. ECARX has a one year low of $0.76 and a one year high of $3.25. The company has a market capitalization of $339.14 million, a PE ratio of -1.83 and a beta of 0.47. The firm’s 50 day simple moving average is $1.99 and its two-hundred day simple moving average is $1.90.

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.