U Power Limited (NASDAQ:UCAR) Stock Short Interest Report for October

U Power Limited (NASDAQ:UCAR) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 11,840 shares, an increase of 83.9% from the September 30th total of 6,439 shares. Based on an average daily trading volume, of 7,868 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in U Power stock. Bank of America Corp DE grew its stake in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,328,553 shares of the company’s stock after purchasing 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. 13.21% of the stock is currently owned by institutional investors.

U Power Stock Performance

UCAR opened at $3.00 on Friday. U Power has a 1-year low of $2.51 and a 1-year high of $438.00. The company’s fifty day moving average price is $5.82 and its two-hundred day moving average price is $72.96.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on UCAR. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a research report on Thursday, October 15th. Maxim Group cut shares of U Power from a “buy” rating to a “hold” rating in a report on Tuesday, September 15th. Finally, 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. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Reduce”.

U Power Company Profile

U Power Limited (NASDAQ: UCAR) is a Chinese electric vehicle technology company focused on developing modular vehicle platforms and battery-swapping systems. Its core technology, known as the UP Super Board, is designed to serve as a customizable chassis for different electric vehicle models and is intended to simplify vehicle development and production.

The company also develops the UOTTA battery-swapping system, which is designed to allow compatible electric vehicles to exchange depleted batteries for charged units.