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

U Power Limited (NASDAQ:UCAR) was the recipient of a significant increase in short interest in October. As of October 15th, there was short interest totaling 11,840 shares, an increase of 83.9% from the September 30th total of 6,439 shares. Based on an average daily trading volume, of 7,868 shares, the days-to-cover ratio is presently 1.5 days. Approximately 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on UCAR. Wall Street Zen raised U Power from a “strong sell” rating to a “sell” rating in a report on Sunday, July 12th. Maxim Group downgraded U Power from a “buy” rating to a “hold” rating in a report on Tuesday, September 15th. Finally, Weiss Ratings restated a “sell (e+)” rating on shares of U Power in a research report on Thursday, October 15th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Reduce”.

Hedge Funds Weigh In On U Power

A hedge fund recently raised its position in U Power stock. Bank of America Corp DE increased its position in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% during the 1st quarter, according to 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 quarter. Bank of America Corp DE owned about 288.82% of U Power worth $50,000 as of its most recent filing with the Securities and Exchange Commission. 13.21% of the stock is currently owned by institutional investors and hedge funds.

U Power Stock Up 5.9%

UCAR stock opened at $3.18 on Tuesday. U Power has a 1 year low of $2.51 and a 1 year high of $438.00. The stock’s 50 day moving average price is $5.64 and its 200 day moving average price is $71.42.

U Power Company Profile

U Power Limited (NASDAQ: UCAR) is a Chinese electric vehicle technology company focused on developing modular vehicle platforms and battery-swapping systems. Its core technology, known as the UP Super Board, is designed to serve as a customizable chassis for different electric vehicle models and is intended to simplify vehicle development and production.

The company also develops the UOTTA battery-swapping system, which is designed to allow compatible electric vehicles to exchange depleted batteries for charged units.