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

U Power Limited (NASDAQ:UCAR) saw a large decline in short interest in 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. Based on an average trading volume of 48,354 shares, the short-interest ratio is currently 0.2 days. Approximately 0.7% of the company’s stock are sold short.

Analyst Ratings Changes

A number of brokerages have commented on UCAR. Wall Street Zen raised shares of U Power from a “strong sell” rating to a “sell” rating in a research report on Sunday, July 12th. Maxim Group cut shares of U Power from a “buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of U Power in a research note on Friday, July 17th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Reduce”.

U Power Price Performance

Shares of NASDAQ UCAR traded up $0.24 during midday trading on Friday, hitting $4.44. 12,270 shares of the company’s stock were exchanged, compared to its average volume of 36,613. U Power has a twelve month low of $3.50 and a twelve month high of $438.00. The firm’s fifty day simple moving average is $12.61 and its 200-day simple moving average is $27.43.

Institutional Inflows and Outflows

A hedge fund recently raised its position in U Power stock. Bank of America Corp DE lifted its stake in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 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.

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.