U Power Limited (NASDAQ:UCAR) Short Interest Update

U Power Limited (NASDAQ:UCAR) saw a large decline in short interest during the month of June. As of June 30th, there was short interest totaling 277,889 shares, a decline of 52.9% from the June 15th total of 589,975 shares. Based on an average daily volume of 276,691 shares, the days-to-cover ratio is presently 1.0 days. Currently, 60.4% of the company’s stock are sold short.

U Power Stock Performance

UCAR traded down $0.02 during trading hours on Wednesday, hitting $1.19. 42,029 shares of the stock were exchanged, compared to its average volume of 6,466,352. The stock has a 50-day simple moving average of $1.30 and a 200-day simple moving average of $6.52. U Power has a 12 month low of $0.38 and a 12 month high of $46.00.

Analysts Set New Price Targets

Several equities analysts have recently commented on UCAR shares. Wall Street Zen upgraded U Power from a “strong sell” rating to a “sell” rating in a research note on Sunday. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a report on Monday, April 20th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $50.00.

Institutional Inflows and Outflows

A hedge fund recently raised its position 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 disclosure with the Securities & Exchange Commission. The firm owned 1,328,553 shares of the company’s stock after acquiring an additional 1,328,552 shares during the quarter. Bank of America Corp DE owned approximately 288.82% of U Power worth $50,000 at the end of the most recent quarter. Institutional investors and hedge funds own 13.21% of the company’s stock.

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.