Short Interest in ECARX Holdings Inc. (NASDAQ:ECX) Rises By 67.0%

ECARX Holdings Inc. (NASDAQ:ECX) was the target of a large increase in short interest during the month of January. As of January 31st, there was short interest totalling 491,700 shares, an increase of 67.0% from the January 15th total of 294,400 shares. Currently, 0.4% of the shares of the stock are sold short. Based on an average trading volume of 801,000 shares, the short-interest ratio is currently 0.6 days.

Analyst Upgrades and Downgrades

Separately, UBS Group assumed coverage on ECARX in a research report on Tuesday. They issued a “buy” rating and a $3.20 price objective on the stock.

ECARX Stock Performance

ECX traded up $0.10 during mid-day trading on Friday, reaching $2.16. The stock had a trading volume of 2,402,976 shares, compared to its average volume of 941,987. The stock has a market capitalization of $729.97 million, a P/E ratio of -4.32 and a beta of 0.31. The firm’s fifty day simple moving average is $1.90 and its two-hundred day simple moving average is $1.82. ECARX has a 52 week low of $0.96 and a 52 week high of $3.09.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Two Sigma Securities LLC bought a new position in ECARX in the 4th quarter valued at $30,000. Tower Research Capital LLC TRC bought a new position in shares of ECARX in the 4th quarter worth $32,000. XTX Topco Ltd bought a new position in shares of ECARX in the 4th quarter worth $52,000. Northern Trust Corp boosted its position in shares of 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 purchasing an additional 41,568 shares during the last quarter. Finally, Green Alpha Advisors LLC bought a new position in shares of ECARX in the 4th quarter worth $167,000.

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.