U Power (NASDAQ:UCAR) Trading Up 7.1% – What’s Next?

U Power Limited (NASDAQ:UCAR)’s share price traded up 7.1% on Thursday . The stock traded as high as $1.21 and last traded at $1.21. Approximately 85,100 shares changed hands during trading, a decline of 77% from the average session volume of 365,222 shares. The stock had previously closed at $1.13.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a research report on Monday, April 20th. Wall Street Zen cut shares of U Power from a “sell” rating to a “strong sell” rating in a research report on Saturday, May 16th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $50.00.

U Power Price Performance

The business has a 50 day simple moving average of $1.33 and a 200-day simple moving average of $6.85.

Hedge Funds Weigh In On U Power

An institutional investor recently raised its stake in U Power stock. Bank of America Corp DE boosted its stake 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 disclosure with the SEC. 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 approximately 288.82% of U Power worth $50,000 as of its most recent SEC filing. 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.