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

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

Wall Street Analysts Forecast Growth

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

ECD Automotive Design Stock Performance

ECDA stock opened at $1.15 on Friday. ECD Automotive Design has a 1 year low of $0.77 and a 1 year high of $17.00. The company has a 50 day moving average of $1.01.

Institutional Investors Weigh In On ECD Automotive Design

Institutional investors and hedge funds have recently bought and sold shares of the stock. Context Capital Management LLC purchased a new stake in ECD Automotive Design in the 4th quarter valued at approximately $52,000. ATW Spac Management LLC purchased a new stake in ECD Automotive Design in the 4th quarter valued at approximately $191,000. Finally, Levin Capital Strategies L.P. purchased a new stake in ECD Automotive Design in the 4th quarter valued at approximately $26,000. Hedge funds and other institutional investors own 94.81% of the company’s stock.

ECD Automotive Design Company Profile

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.