Short Interest in ECARX Holdings, Inc. (NASDAQ:ECX) Rises By 67.9%

ECARX Holdings, Inc. (NASDAQ:ECX) saw a large increase in short interest in May. As of May 15th, there was short interest totaling 5,577,306 shares, an increase of 67.9% from the April 30th total of 3,322,632 shares. Currently, 2.0% of the company’s stock are sold short. Based on an average trading volume of 1,223,339 shares, the short-interest ratio is presently 4.6 days.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on ECX shares. Weiss Ratings restated a “sell (e+)” rating on shares of ECARX in a research note on Monday, April 20th. Zacks Research upgraded ECARX from a “strong sell” rating to a “hold” rating in a research note on Tuesday, April 14th. One analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Reduce”.

ECARX Price Performance

ECX stock opened at $1.40 on Friday. ECARX has a 1-year low of $0.88 and a 1-year high of $2.70. The firm has a fifty day moving average price of $1.10 and a two-hundred day moving average price of $1.48. The firm has a market cap of $499.06 million, a price-to-earnings ratio of -9.33 and a beta of 1.00.

ECARX (NASDAQ:ECX) last posted its quarterly earnings results on Tuesday, May 19th. The company reported ($0.03) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The firm had revenue of $131.50 million for the quarter, compared to the consensus estimate of $204.66 million. As a group, analysts expect that ECARX will post -0.04 EPS for the current fiscal year.

Hedge Funds Weigh In On ECARX

Large investors have recently bought and sold shares of the business. Cubist Systematic Strategies LLC bought a new position in shares of ECARX during the first quarter valued at approximately $213,000. Goldman Sachs Group Inc. lifted its holdings in shares of ECARX by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock worth $94,000 after purchasing an additional 22,498 shares during the last quarter. Jane Street Group LLC boosted its position in ECARX by 234.4% during the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company’s stock valued at $726,000 after purchasing an additional 404,119 shares during the period. Invesco Ltd. grew its stake in ECARX by 5.8% during the 2nd quarter. Invesco Ltd. now owns 253,689 shares of the company’s stock worth $520,000 after buying an additional 13,859 shares during the last quarter. Finally, Tower Research Capital LLC TRC bought a new position in ECARX during the 2nd quarter worth $71,000.

ECARX Company Profile

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).