ECARX Holdings, Inc. (NASDAQ:ECX) Short Interest Update

Key Points

• Short interest in ECARX Holdings, Inc. decreased by 40.4% in September, falling to 4,520,000 shares, with approximately 3.6% of the stock sold short.
• Wall Street analysts currently give ECARX an average rating of "Hold" with a consensus target price of $3.20, though some have issued sell ratings.
• The company's stock has risen 4.1% recently, reaching $2.28, with a market capitalization of approximately $845.26 million.

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) was the target of a large decrease in short interest during the month of September. As of September 15th, there was short interest totaling 4,520,000 shares, a decrease of 40.4% from the August 31st total of 7,580,000 shares. Based on an average trading volume of 4,040,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.6% of the company's stock are sold short. Approximately 3.6% of the company's stock are sold short. Based on an average trading volume of 4,040,000 shares, the days-to-cover ratio is currently 1.1 days.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. Weiss Ratings reiterated a "sell (e+)" rating on shares of ECARX in a report on Saturday, September 27th. Wall Street Zen downgraded ECARX from a "hold" rating to a "sell" rating in a report on Saturday, August 30th. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, ECARX currently has an average rating of "Hold" and a consensus target price of $3.20.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the company. Deutsche Bank AG purchased a new position in ECARX during the 1st quarter worth approximately $3,722,000. Valliance Asset Management Ltd purchased a new position in shares of ECARX in the 1st quarter valued at approximately $2,252,000. Infini Capital Management Ltd purchased a new position in shares of ECARX in the 1st quarter valued at approximately $2,005,000. Legal & General Group Plc purchased a new position in shares of ECARX in the 2nd quarter valued at approximately $2,341,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of ECARX in the 2nd quarter valued at approximately $1,722,000.

ECARX Stock Up 4.1%

NASDAQ:ECX traded up $0.09 during mid-day trading on Friday, reaching $2.28. 1,451,352 shares of the stock were exchanged, compared to its average volume of 1,418,999. The company has a 50 day simple moving average of $1.76 and a 200-day simple moving average of $1.65. The stock has a market capitalization of $845.26 million, a P/E ratio of -6.33 and a beta of 0.71. ECARX has a 1 year low of $0.76 and a 1 year high of $3.25.

ECARX (NASDAQ:ECX - Get Free Report) last released its quarterly earnings results on Tuesday, August 26th. The company reported ($0.13) earnings per share (EPS) for the quarter. The company had revenue of $155.30 million during the quarter, compared to analysts' expectations of $223.92 million. As a group, research analysts predict that ECARX will post -0.42 EPS for the current 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.

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