U Power Limited (NASDAQ:UCAR) Short Interest Down 36.5% in May

U Power Limited (NASDAQ:UCAR) was the target of a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 211,636 shares, a decline of 36.5% from the April 30th total of 333,118 shares. Based on an average daily volume of 537,595 shares, the days-to-cover ratio is currently 0.4 days. Currently, 46.0% of the company’s shares are sold short.

Hedge Funds Weigh In On U Power

A hedge fund recently raised its stake in U Power stock. Sabby Management LLC boosted its stake in U Power Limited (NASDAQ:UCAR) by 3,943.4% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 240,260 shares of the company’s stock after acquiring an additional 234,318 shares during the quarter. U Power comprises about 0.6% of Sabby Management LLC’s holdings, making the stock its 11th largest holding. Sabby Management LLC owned approximately 5.44% of U Power worth $485,000 at the end of the most recent reporting period. 13.21% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently issued reports on UCAR shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of U Power in a report on Monday, April 20th. Wall Street Zen cut U Power from a “sell” rating to a “strong sell” rating in a report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $50.00.

U Power Trading Up 1.4%

Shares of NASDAQ:UCAR opened at $1.42 on Thursday. U Power has a 1 year low of $0.38 and a 1 year high of $49.80. The stock has a 50-day simple moving average of $1.35 and a 200-day simple moving average of $10.03.

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.