U Power Limited (NASDAQ:UCAR) Shares Shorted: Short Interest Up 83.9% in October

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

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on UCAR shares. Wall Street Zen raised shares of U Power from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of U Power in a research note on Thursday, October 15th. Finally, Maxim Group downgraded shares of U Power from a “buy” rating to a “hold” rating in a research note on Tuesday, September 15th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Reduce”.

U Power Trading Up 5.3%

NASDAQ UCAR opened at $3.00 on Friday. U Power has a 12-month low of $2.51 and a 12-month high of $438.00. The business’s 50 day moving average is $5.82 and its two-hundred day moving average is $72.96.

Institutional Trading of U Power

An institutional investor recently raised its position in U Power stock. Bank of America Corp DE boosted its stake in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor 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 approximately 288.82% of U Power worth $50,000 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 (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.