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

Key Points

• ECARX Holdings, Inc. experienced a 30.8% decline in short interest in September, dropping from 4,520,000 shares to 3,130,000 shares.
• Shares of ECARX are currently trading at $2.32, down 2.9%, with a market capitalization of approximately $860.09 million.
• The company reported a quarterly loss of ($0.13) EPS against revenue of $155.30 million, falling short of analyst expectations of $223.92 million.

ECARX Holdings, Inc. (NASDAQ:ECX - Get Free Report) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 3,130,000 shares, a decline of 30.8% from the September 15th total of 4,520,000 shares. Based on an average daily volume of 3,440,000 shares, the days-to-cover ratio is presently 0.9 days. Currently, 2.5% of the company's shares are sold short. Currently, 2.5% of the company's shares are sold short. Based on an average daily volume of 3,440,000 shares, the days-to-cover ratio is presently 0.9 days.

Institutional Trading of ECARX

Several institutional investors have recently added to or reduced their stakes in ECX. Deutsche Bank AG bought a new stake in ECARX during the first quarter valued at $3,722,000. Valliance Asset Management Ltd bought a new position in shares of ECARX during the first quarter worth about $2,252,000. Infini Capital Management Ltd bought a new position in shares of ECARX during the first quarter worth about $2,005,000. Legal & General Group Plc bought a new position in shares of ECARX during the second quarter worth about $2,341,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of ECARX during the second quarter worth about $1,722,000.

ECARX Stock Down 2.9%

Shares of NASDAQ ECX traded down $0.07 during trading on Thursday, reaching $2.32. 4,392,693 shares of the stock were exchanged, compared to its average volume of 2,101,637. The business's 50-day moving average price is $1.94 and its 200 day moving average price is $1.69. ECARX has a twelve month low of $0.76 and a twelve month high of $3.25. The company has a market capitalization of $860.09 million, a price-to-earnings ratio of -6.44 and a beta of 0.71.

ECARX (NASDAQ:ECX - Get Free Report) last issued 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 for the quarter, compared to analyst estimates of $223.92 million. As a group, sell-side analysts expect that ECARX will post -0.42 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. Weiss Ratings reaffirmed a "sell (e+)" rating on shares of ECARX in a research report on Wednesday, October 8th. Wall Street Zen cut shares of ECARX from a "hold" rating to a "sell" rating in a research report on Saturday, August 30th. One investment analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, ECARX currently has a consensus rating of "Hold" and a consensus price target of $3.20.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.