U Power Limited (NASDAQ:UCAR) Sees Significant Decrease in Short Interest

U Power Limited (NASDAQ:UCAR) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 8,936 shares, a decline of 89.2% from the August 31st total of 83,013 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average trading volume of 48,354 shares, the short-interest ratio is currently 0.2 days.

Analyst Ratings Changes

A number of research firms recently weighed in on UCAR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a research report on Friday, July 17th. Maxim Group lowered U Power from a “buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Finally, Wall Street Zen upgraded U Power from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the company has an average rating of “Reduce”.

Institutional Inflows and Outflows

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

U Power Stock Performance

NASDAQ UCAR traded down $0.40 during trading on Thursday, hitting $4.20. The stock had a trading volume of 8,259 shares, compared to its average volume of 36,345. The firm has a 50 day moving average price of $12.98 and a 200 day moving average price of $27.59. U Power has a twelve month low of $3.50 and a twelve month high of $438.00.

About U Power

U Power Limited is a China-based electric vehicle technology company focused on developing modular vehicle platforms and battery-swapping solutions. Its core technology, known as the UP Super Board, is designed as a skateboard-style chassis that integrates key electric vehicle components and can support different vehicle bodies and configurations.

The company develops commercial and passenger electric vehicles, as well as related products and services for applications such as urban mobility, logistics and other specialized transportation needs.