ECARX Holdings Inc. (NASDAQ:ECX) Short Interest Up 19.9% in May

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report) was the recipient of a significant growth in short interest in May. As of May 15th, there was short interest totalling 5,790,000 shares, a growth of 19.9% from the April 30th total of 4,830,000 shares. Approximately 4.7% of the company's stock are short sold. Based on an average trading volume of 5,930,000 shares, the days-to-cover ratio is currently 1.0 days.

Institutional Investors Weigh In On ECARX

Several large investors have recently bought and sold shares of the business. Jane Street Group LLC increased its holdings in ECARX by 234.4% in the 1st quarter. Jane Street Group LLC now owns 576,490 shares of the company's stock worth $726,000 after buying an additional 404,119 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in shares of ECARX by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company's stock valued at $94,000 after purchasing an additional 22,498 shares during the period. Hhlr Advisors LTD. bought a new stake in shares of ECARX during the 1st quarter valued at about $504,000. Cubist Systematic Strategies LLC bought a new stake in shares of ECARX during the 1st quarter valued at about $213,000. Finally, Ghisallo Capital Management LLC bought a new stake in shares of ECARX during the 1st quarter valued at about $441,000.

Analyst Upgrades and Downgrades

Separately, UBS Group began coverage on ECARX in a report on Tuesday, February 11th. They issued a "buy" rating and a $3.20 price objective for the company.

ECARX Price Performance

NASDAQ ECX traded up $0.06 during trading hours on Friday, hitting $1.65. The company's stock had a trading volume of 605,738 shares, compared to its average volume of 1,915,459. ECARX has a 12 month low of $0.76 and a 12 month high of $3.25. The company's 50 day simple moving average is $1.32 and its two-hundred day simple moving average is $1.79. The company has a market cap of $611.70 million, a P/E ratio of -3.30 and a beta of 0.56.

ECARX (NASDAQ:ECX - Get Free Report) last released its quarterly earnings data on Wednesday, April 30th. The company reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.05) by ($0.03). The company had revenue of $168.40 million during the quarter, compared to the consensus estimate of $154.18 million. As a group, research analysts predict that ECARX will post -0.42 earnings per share for the current fiscal year.

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.