Shares of U Power Limited (NASDAQ:UCAR – Free Report) are set to reverse split before the market opens on Wednesday, September 9th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Tuesday, September 8th.
U Power Stock Performance
UCAR opened at $0.47 on Friday. The stock’s 50 day moving average price is $0.91 and its 200 day moving average price is $2.82. U Power has a 12 month low of $0.38 and a 12 month high of $21.90.
Analyst Upgrades and Downgrades
A number of brokerages have weighed in on UCAR. Weiss Ratings reissued a “sell (e+)” rating on shares of U Power in a report on Friday, July 17th. Wall Street Zen upgraded shares of U Power from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $50.00.
Institutional Investors Weigh In On U Power
A hedge fund recently raised its position in U Power stock. Bank of America Corp DE raised its holdings in U Power Limited (NASDAQ:UCAR – Free Report) by 132,855,200.0% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund 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 about 288.82% of U Power worth $50,000 at the end of the most recent quarter. 13.21% of the stock is currently owned by institutional investors.
About U Power
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.
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