ECARX Holdings, Inc. (NASDAQ:ECX) Sees Large Decrease in Short Interest

ECARX Holdings, Inc. (NASDAQ:ECX) was the recipient of a large 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 trading volume, of 3,440,000 shares, the short-interest ratio is currently 0.9 days. Approximately 2.5% of the company’s stock are short sold. Approximately 2.5% of the company’s stock are short sold. Based on an average daily trading volume, of 3,440,000 shares, the short-interest ratio is currently 0.9 days.

ECARX Stock Down 1.7%

Shares of NASDAQ:ECX opened at $2.28 on Friday. ECARX has a fifty-two week low of $0.76 and a fifty-two week high of $3.25. The firm has a 50-day simple moving average of $1.95 and a 200 day simple moving average of $1.70. The company has a market cap of $845.26 million, a PE ratio of -6.33 and a beta of 0.71.

ECARX (NASDAQ:ECX) last announced its quarterly earnings data on Tuesday, August 26th. The company reported ($0.13) earnings per share 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, research analysts forecast that ECARX will post -0.42 EPS for the current fiscal year.

Institutional Investors Weigh In On ECARX

A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC acquired a new position in ECARX during the 2nd quarter valued at about $71,000. Goldman Sachs Group Inc. boosted its stake in ECARX by 43.3% during the 1st quarter. Goldman Sachs Group Inc. now owns 74,498 shares of the company’s stock valued at $94,000 after purchasing an additional 22,498 shares during the period. State of Wyoming acquired a new position in ECARX during the 2nd quarter valued at about $167,000. XTX Topco Ltd boosted its stake in ECARX by 329.8% during the 1st quarter. XTX Topco Ltd now owns 105,342 shares of the company’s stock valued at $133,000 after purchasing an additional 80,833 shares during the period. Finally, MYDA Advisors LLC acquired a new position in ECARX during the 1st quarter valued at about $164,000.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. Wall Street Zen downgraded shares of ECARX from a “hold” rating to a “sell” rating in a research note on Saturday, August 30th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of ECARX in a research note on Friday. One research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average 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.