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

ECARX Holdings, Inc. (NASDAQ:ECX) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 5,577,306 shares, a growth of 67.9% from the April 30th total of 3,322,632 shares. Based on an average trading volume of 1,223,339 shares, the short-interest ratio is presently 4.6 days. Approximately 2.0% of the shares of the stock are short sold.

Hedge Funds Weigh In On ECARX

A number of large investors have recently added to or reduced their stakes in the business. Invesco Ltd. raised its position in ECARX by 5.8% in the 2nd quarter. Invesco Ltd. now owns 253,689 shares of the company’s stock worth $520,000 after purchasing an additional 13,859 shares during the period. Legal & General Group Plc raised its position in ECARX by 1.4% in the 3rd quarter. Legal & General Group Plc now owns 1,155,630 shares of the company’s stock worth $2,317,000 after purchasing an additional 16,420 shares during the period. SG Americas Securities LLC raised its position in ECARX by 117.9% in the 4th quarter. SG Americas Securities LLC now owns 40,000 shares of the company’s stock worth $69,000 after purchasing an additional 21,646 shares during the period. Goldman Sachs Group Inc. raised its position in ECARX by 43.3% in the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock worth $94,000 after purchasing an additional 22,498 shares during the period. Finally, Integrated Wealth Concepts LLC purchased a new position in ECARX in the 3rd quarter worth $51,000.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ECX. Zacks Research raised shares of ECARX from a “strong sell” rating to a “hold” rating in a report on Tuesday, April 14th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a report on Monday, April 20th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, ECARX has an average rating of “Reduce”.

ECARX Stock Up 7.3%

Shares of NASDAQ:ECX opened at $1.33 on Thursday. The stock has a market cap of $474.11 million, a PE ratio of -8.87 and a beta of 1.00. The company’s fifty day moving average is $1.09 and its 200 day moving average is $1.49. ECARX has a 52 week low of $0.88 and a 52 week high of $2.70.

ECARX (NASDAQ:ECX) last issued its earnings results on Tuesday, May 19th. The company reported ($0.03) EPS for the quarter, missing analysts’ consensus estimates of ($0.01) by ($0.02). The company had revenue of $131.50 million for the quarter, compared to the consensus estimate of $204.66 million. Sell-side analysts anticipate that ECARX will post -0.04 EPS for the current year.

ECARX Company Profile

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).