Short Interest in U Power Limited (NASDAQ:UCAR) Drops By 41.4%

U Power Limited (NASDAQ:UCAR) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totaling 83,013 shares, a decrease of 41.4% from the August 15th total of 141,766 shares. Approximately 0.3% of the shares of the stock are short sold. Based on an average daily volume of 872,017 shares, the short-interest ratio is presently 0.1 days.

U Power Trading Up 2.7%

Shares of UCAR traded up $0.10 during mid-day trading on Wednesday, reaching $3.85. The company’s stock had a trading volume of 105,335 shares, compared to its average volume of 251,590. U Power has a 52 week low of $3.50 and a 52 week high of $438.00. The company’s fifty day moving average price is $15.39 and its two-hundred day moving average price is $39.18.

Institutional Investors Weigh In On U Power

A hedge fund recently raised its stake in U Power stock. Bank of America Corp DE raised its position in shares of U Power Limited (NASDAQ:UCAR) by 132,855,200.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,328,553 shares of the company’s stock after buying an additional 1,328,552 shares during the quarter. Bank of America Corp DE owned about 288.82% of U Power worth $50,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on UCAR. Wall Street Zen upgraded shares of U Power from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of U Power in a report on Friday, July 17th. Finally, Maxim Group cut shares of U Power from a “buy” rating to a “hold” rating in a research report on Tuesday. One equities research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, U Power presently has a consensus rating of “Reduce”.

U Power Company Profile

U Power Limited, together with its subsidiaries, engages in the development, manufacture, and sale of new energy vehicles and battery swapping stations in the People's Republic of China. It also offers battery swapping and sourcing, as well as technical and consultation services. The company was founded in 2013 and is headquartered in Wuhu, the People's Republic of China.