U Power Limited (NASDAQ:UCAR) Stock Short Interest Declines 89.2%

U Power Limited (NASDAQ:UCAR) was the recipient of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totaling 8,936 shares, a decrease of 89.2% from the August 31st total of 83,013 shares. Based on an average daily trading volume, of 48,354 shares, the days-to-cover ratio is presently 0.2 days. Currently, 0.7% of the company’s shares are short sold.

U Power Price Performance

UCAR opened at $4.20 on Friday. U Power has a 1 year low of $3.50 and a 1 year high of $438.00. The firm has a 50 day moving average price of $12.98 and a 200 day moving average price of $27.59.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on UCAR shares. 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 research report on Friday, July 17th. 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 equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, U Power has a consensus rating of “Reduce”.

Hedge Funds Weigh In On U Power

An institutional investor recently raised its stake in U Power stock. Bank of America Corp DE boosted its stake in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,328,553 shares of the company’s stock after purchasing 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 reporting period. 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.