U Power Stock Scheduled to Reverse Split on Wednesday, September 9th (NASDAQ:UCAR)

U Power Limited (NASDAQ:UCAR)’s stock is set to reverse split on the morning of Wednesday, September 9th. The 1-20 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Tuesday, September 8th.

U Power Price Performance

Shares of U Power stock opened at $0.47 on Friday. U Power has a one year low of $0.38 and a one year high of $21.90. The business has a 50-day simple moving average of $0.91 and a 200-day simple moving average of $2.82.

Analyst Ratings Changes

A number of brokerages recently issued reports on UCAR. Weiss Ratings reiterated a “sell (e+)” rating on shares of U Power in a research note 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 investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus 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 increased its holdings in shares of U Power Limited (NASDAQ:UCAR) by 132,855,200.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,328,553 shares of the company’s stock after purchasing an additional 1,328,552 shares during the quarter. Bank of America Corp DE owned approximately 288.82% of U Power worth $50,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 13.21% of the company’s stock.

U Power Company Profile

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.