Short Interest in ECD Automotive Design, Inc. (NASDAQ:ECDA) Grows By 808.4%

ECD Automotive Design, Inc. (NASDAQ:ECDA) saw a large growth in short interest during the month of 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. Based on an average daily volume of 66,000 shares, the days-to-cover ratio is currently 1.1 days. Approximately 3.1% of the company’s shares are short sold.

Analyst Ratings Changes

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

Institutional Inflows and Outflows

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

ECD Automotive Design Trading Down 3.4 %

Shares of NASDAQ ECDA traded down $0.04 during mid-day trading on Thursday, hitting $1.15. The company’s stock had a trading volume of 38,096 shares, compared to its average volume of 112,991. ECD Automotive Design has a one year low of $0.77 and a one year high of $17.00. The company has a fifty day simple moving average of $1.00.

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.