Short Interest in ECARX Holdings Inc. (NASDAQ:ECX) Rises By 19.9%

ECARX Holdings Inc. (NASDAQ:ECX - Get Free Report) was the target of a large increase in short interest in the month of May. As of May 15th, there was short interest totalling 5,790,000 shares, an increase of 19.9% from the April 30th total of 4,830,000 shares. Based on an average trading volume of 5,930,000 shares, the short-interest ratio is presently 1.0 days. Approximately 4.7% of the shares of the stock are short sold.

ECARX Price Performance

Shares of NASDAQ ECX traded up $0.06 on Friday, hitting $1.65. The company's stock had a trading volume of 605,738 shares, compared to its average volume of 1,922,925. The stock has a 50 day moving average of $1.32 and a 200-day moving average of $1.80. The company has a market capitalization of $611.70 million, a price-to-earnings ratio of -3.30 and a beta of 0.56. ECARX has a 12-month low of $0.76 and a 12-month high of $3.25.

ECARX (NASDAQ:ECX - Get Free Report) last issued its quarterly earnings data on Wednesday, April 30th. The company reported ($0.08) earnings per share (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 analysts' expectations of $154.18 million. Sell-side analysts expect that ECARX will post -0.42 EPS for the current fiscal year.

Hedge Funds Weigh In On ECARX

Several hedge funds have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new position in ECARX in the 4th quarter valued at about $30,000. Tower Research Capital LLC TRC purchased a new stake in shares of ECARX during the fourth quarter worth about $32,000. XTX Topco Ltd purchased a new stake in shares of ECARX during the fourth quarter worth about $52,000. Citadel Advisors LLC acquired a new position in shares of ECARX in the fourth quarter valued at approximately $68,000. Finally, Goldman Sachs Group Inc. raised its position in shares of ECARX by 43.3% in the first quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company's stock valued at $94,000 after buying an additional 22,498 shares during the last quarter.

Analyst Upgrades and Downgrades

Separately, UBS Group started coverage on ECARX in a research note on Tuesday, February 11th. They set a "buy" rating and a $3.20 price target for the company.

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.