ECD Automotive Design, Inc. (NASDAQ:ECDA) Sees Large Increase in Short Interest

ECD Automotive Design, Inc. (NASDAQ:ECDA) was the recipient of a significant increase in short interest during the month of April. As of April 15th, there was short interest totalling 75,400 shares, an increase of 808.4% from the March 31st total of 8,300 shares. Based on an average daily trading volume, of 66,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 3.1% of the shares of the stock are short sold.

ECD Automotive Design Price Performance

ECD Automotive Design stock opened at $1.15 on Friday. The business has a 50 day moving average price of $1.01. ECD Automotive Design has a 52 week low of $0.77 and a 52 week high of $17.00.

Analyst Upgrades and Downgrades

Separately, Litchfield Hills Research restated a “buy” rating and issued a $9.00 price target on shares of ECD Automotive Design in a research report on Tuesday, January 30th.

Institutional Investors Weigh In On ECD Automotive Design

Institutional investors have recently modified their holdings of the stock. Levin Capital Strategies L.P. acquired a new stake in shares of ECD Automotive Design during the 4th quarter valued at $26,000. Context Capital Management LLC acquired a new stake in shares of ECD Automotive Design in the 4th quarter valued at $52,000. Finally, ATW Spac Management LLC acquired a new stake in shares of ECD Automotive Design in the 4th quarter valued at $191,000. Institutional investors and hedge funds own 94.81% of the company’s stock.

About ECD Automotive Design

ECD Automotive Design, Inc engages in the production and sale of customized Land Rover vehicles in the United States. The company also provides repair or upgrade services and extended warranties to customers. It restores various vehicles, including Land Rovers Defenders, Land Rover Series IIA and III, the Range Rover Classic, and Jaguar E-Type.