U Power Limited (NASDAQ:UCAR) Sees Large Drop in Short Interest

U Power Limited (NASDAQ:UCAR) was the recipient of a large decline in short interest during the month of August. As of August 14th, there was short interest totaling 141,766 shares, a decline of 34.0% from the July 30th total of 214,684 shares. Based on an average trading volume of 354,678 shares, the days-to-cover ratio is presently 0.4 days. Currently, 28.4% of the company’s shares are short sold.

Institutional Investors Weigh In On U Power

A hedge fund recently raised its position in U Power stock. Bank of America Corp DE increased its stake in shares of U Power Limited (NASDAQ:UCAR) by 132,855,200.0% in the first quarter, according to its most recent Form 13F filing with the 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 about 288.82% of U Power worth $50,000 as of its most recent SEC filing. 13.21% of the stock is owned by hedge funds and other institutional investors.

U Power Stock Down 1.0%

UCAR opened at $0.60 on Wednesday. The company has a fifty day moving average price of $0.95 and a two-hundred day moving average price of $3.02. U Power has a 1-year low of $0.38 and a 1-year high of $21.90.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on UCAR. Wall Street Zen raised shares of U Power from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $50.00.

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.