U Power Limited (NASDAQ:UCAR) Sees Significant Decrease in Short Interest

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

Analyst Ratings Changes

Several brokerages have recently weighed in on UCAR. Maxim Group cut shares of U Power from a “buy” rating to a “hold” rating in a research report on Tuesday, September 15th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a research note on Friday, July 17th. Finally, 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. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Reduce”.

U Power Trading Down 8.7%

U Power stock traded down $0.40 during mid-day trading on Thursday, hitting $4.20. The company’s stock had a trading volume of 8,259 shares, compared to its average volume of 36,345. The stock’s fifty day moving average is $12.98 and its two-hundred day moving average is $27.59. U Power has a 1 year low of $3.50 and a 1 year high of $438.00.

Hedge Funds Weigh In On U Power

An institutional investor recently raised its position in U Power stock. Bank of America Corp DE boosted its stake in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm 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 approximately 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 and hedge funds.

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.