U Power (NASDAQ:UCAR) Shares Down 5.7% – Here’s Why

Shares of U Power Limited (NASDAQ:UCAR) traded down 5.7% during mid-day trading on Thursday . The stock traded as low as $1.29 and last traded at $1.32. 37,216 shares changed hands during trading, an increase of 162% from the average session volume of 14,189 shares. The stock had previously closed at $1.40.

Wall Street Analyst Weigh In

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

U Power Trading Down 5.7%

The company’s fifty day moving average is $1.63 and its 200 day moving average is $1.94.

U Power (NASDAQ:UCAR) last issued its quarterly earnings results on Friday, October 10th. The company reported ($2.90) earnings per share (EPS) for the quarter. The business had revenue of $1.24 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in U Power stock. Sabby Management LLC raised its stake in U Power Limited (NASDAQ:UCAR) by 3,943.4% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,260 shares of the company’s stock after purchasing an additional 234,318 shares during the quarter. U Power makes up about 0.6% of Sabby Management LLC’s portfolio, making the stock its 11th biggest holding. Sabby Management LLC owned 5.44% of U Power worth $485,000 as of its most recent filing with the Securities & Exchange Commission. Hedge funds and other institutional investors 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.