ECARX Holdings, Inc. (NASDAQ:ECX) Short Interest Up 13.5% in April

Key Points

• Short interest rose 13.5% in April to 4,997,146 shares (about 1.8% of the stock) and the stock has a days-to-cover ratio of 6.0 based on average daily volume.
• Several institutions materially increased positions—Jane Street added ~1.53M shares, Tudor ~1.04M and Renaissance ~667.8K—while Citadel and HRT opened new stakes.
• Analysts hold a consensus "Reduce" (one Hold, one Sell); ECARX trades around $1.07 with a $381M market cap and negative P/E, and it reported an EPS beat ($0.01 vs. -$0.03) but slightly missed revenue expectations last quarter.

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) was the recipient of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 4,997,146 shares, a growth of 13.5% from the March 31st total of 4,402,476 shares. Approximately 1.8% of the company's stock are short sold. Based on an average daily trading volume, of 832,745 shares, the days-to-cover ratio is presently 6.0 days.

Institutional Trading of ECARX

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in shares of ECARX by 194.3% in the fourth quarter. Jane Street Group LLC now owns 2,309,869 shares of the company's stock worth $3,973,000 after buying an additional 1,525,093 shares in the last quarter. Tudor Investment Corp ET AL increased its position in shares of ECARX by 430.1% during the third quarter. Tudor Investment Corp ET AL now owns 1,279,950 shares of the company's stock valued at $2,573,000 after acquiring an additional 1,038,476 shares in the last quarter. Citadel Advisors LLC bought a new stake in shares of ECARX during the third quarter valued at approximately $2,054,000. Renaissance Technologies LLC raised its holdings in ECARX by 56.9% in the 4th quarter. Renaissance Technologies LLC now owns 1,842,100 shares of the company's stock worth $3,168,000 after acquiring an additional 667,800 shares during the last quarter. Finally, HRT Financial LP purchased a new position in ECARX in the 4th quarter worth approximately $500,000.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ECX shares. Weiss Ratings reissued a "sell (e+)" rating on shares of ECARX in a research report on Monday, April 20th. Zacks Research raised shares of 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 given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Reduce".

ECARX Trading Down 1.8%

Shares of NASDAQ:ECX opened at $1.07 on Friday. The stock has a fifty day simple moving average of $1.23 and a two-hundred day simple moving average of $1.68. ECARX has a 12-month low of $0.88 and a 12-month high of $2.70. The stock has a market capitalization of $381.42 million, a price-to-earnings ratio of -5.35 and a beta of 0.96.

ECARX (NASDAQ:ECX - Get Free Report) last released its earnings results on Thursday, February 12th. The company reported $0.01 EPS for the quarter, topping analysts' consensus estimates of ($0.03) by $0.04. The company had revenue of $301.06 million during the quarter, compared to analysts' expectations of $311.90 million. As a group, equities research analysts predict that ECARX will post -0.04 EPS for the current year.

About ECARX

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).

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