U Power (NASDAQ:UCAR) Shares Up 1.7% – What’s Next?

Shares of U Power Limited (NASDAQ:UCAR) shot up 1.7% during mid-day trading on Friday . The company traded as high as $1.9071 and last traded at $1.82. 5,066 shares traded hands during trading, a decline of 83% from the average session volume of 29,628 shares. The stock had previously closed at $1.79.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a report on Wednesday, October 8th. Maxim Group started coverage on shares of U Power in a report on Tuesday, September 9th. They issued a “buy” rating and a $5.00 price target on the stock. 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, U Power has a consensus rating of “Hold” and a consensus price target of $5.00.

U Power Stock Performance

The firm’s 50-day simple moving average is $2.00 and its 200-day simple moving average is $2.55.

U Power (NASDAQ:UCAR) last issued its quarterly earnings results on Friday, October 10th. The company reported ($2.90) EPS for the quarter. The firm had revenue of $1.24 million for the quarter.

Hedge Funds Weigh In On U Power

An institutional investor recently raised its position in U Power stock. Sabby Management LLC increased its position in U Power Limited (NASDAQ:UCAR) by 3,943.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 240,260 shares of the company’s stock after buying an additional 234,318 shares during the quarter. U Power accounts for 0.6% of Sabby Management LLC’s portfolio, making the stock its 11th largest position. Sabby Management LLC owned about 5.44% of U Power worth $485,000 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, 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.