U Power (NASDAQ:UCAR) Shares Down 5.7% – Here’s What Happened

Shares of U Power Limited (NASDAQ:UCAR) were down 5.7% during mid-day trading on Thursday . The stock traded as low as $1.29 and last traded at $1.32. Approximately 37,216 shares traded hands during mid-day trading, an increase of 162% from the average daily volume of 14,189 shares. The stock had previously closed at $1.40.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a report on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat.com, U Power has a consensus rating of “Hold” and a consensus price target of $5.00.

U Power Stock Down 5.7%

The firm’s 50-day moving average price is $1.63 and its 200 day moving average price is $1.94.

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

Institutional Trading of U Power

A hedge fund recently raised its stake in U Power stock. Sabby Management LLC boosted its holdings in U Power Limited (NASDAQ:UCAR) by 3,943.4% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,260 shares of the company’s stock after buying an additional 234,318 shares during the quarter. U Power makes up 0.6% of Sabby Management LLC’s holdings, making the stock its 11th biggest holding. Sabby Management LLC owned approximately 5.44% of U Power worth $485,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 13.21% of the company’s stock.

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.