ECARX Holdings Inc. (NASDAQ:ECX) Sees Significant Drop in Short Interest

ECARX Holdings Inc. (NASDAQ:ECX) was the target of a significant drop in short interest in February. As of February 15th, there was short interest totalling 87,800 shares, a drop of 82.1% from the January 31st total of 491,700 shares. Approximately 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 1,270,000 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On ECARX

Several hedge funds have recently modified their holdings of ECX. Two Sigma Securities LLC bought a new position in shares of ECARX in the fourth quarter valued at $30,000. Tower Research Capital LLC TRC bought a new position in shares of ECARX in the 4th quarter valued at about $32,000. XTX Topco Ltd acquired a new position in shares of ECARX during the 4th quarter worth about $52,000. Citadel Advisors LLC bought a new stake in shares of ECARX in the 4th quarter valued at about $68,000. Finally, Green Alpha Advisors LLC bought a new position in ECARX during the fourth quarter worth about $167,000.

ECARX Trading Up 2.6 %

Shares of ECX opened at $2.39 on Friday. The stock has a market capitalization of $807.70 million, a price-to-earnings ratio of -4.78 and a beta of 0.31. ECARX has a 12 month low of $0.96 and a 12 month high of $2.80. The firm has a fifty day simple moving average of $1.94 and a 200 day simple moving average of $1.85.

Wall Street Analysts Forecast Growth

Separately, UBS Group initiated coverage on ECARX in a research note on Tuesday, February 11th. They issued a “buy” rating and a $3.20 target price on the stock.

About ECARX

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.