U Power Shares to Reverse Split on Monday, March 30th (NASDAQ:UCAR)

U Power Limited (NASDAQ:UCAR)’s stock is scheduled to reverse split on the morning of Monday, March 30th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Sunday, March 29th.

U Power Trading Down 16.1%

NASDAQ:UCAR opened at $0.10 on Thursday. U Power has a 52 week low of $0.09 and a 52 week high of $4.98. The firm has a 50-day moving average price of $1.19 and a two-hundred day moving average price of $1.65.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a research report on Wednesday, January 21st. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $5.00.

Hedge Funds Weigh In On U Power

A hedge fund recently raised its stake in U Power stock. Sabby Management LLC increased its stake in shares of U Power Limited (NASDAQ:UCAR) by 3,943.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 240,260 shares of the company’s stock after buying an additional 234,318 shares during the period. U Power comprises about 0.6% of Sabby Management LLC’s holdings, making the stock its 11th biggest position. Sabby Management LLC owned about 5.44% of U Power worth $485,000 as of its most recent filing with the SEC. Hedge funds and other institutional investors own 13.21% of the company’s stock.

About U Power

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.