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

ECARX Holdings Inc. (NASDAQ:ECX) was the target of a significant growth in short interest in 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. Based on an average daily trading volume, of 2,480,000 shares, the days-to-cover ratio is presently 0.5 days. Currently, 1.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

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

ECARX Trading Down 33.6 %

Shares of NASDAQ:ECX opened at $1.50 on Friday. The stock has a market capitalization of $506.93 million, a PE ratio of -3.00 and a beta of 0.23. ECARX has a 1 year low of $0.96 and a 1 year high of $3.25. The firm has a fifty day moving average price of $2.18 and a 200 day moving average price of $1.97.

Analyst Ratings Changes

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

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.