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

U Power Limited (NASDAQ:UCAR) saw a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 404,728 shares, an increase of 91.2% from the May 14th total of 211,636 shares. Approximately 88.0% of the shares of the company are short sold. Based on an average daily volume of 1,944,336 shares, the short-interest ratio is presently 0.2 days.

Institutional Inflows and Outflows

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

U Power Stock Down 1.6%

Shares of NASDAQ:UCAR traded down $0.02 during midday trading on Friday, reaching $1.21. The company’s stock had a trading volume of 330,482 shares, compared to its average volume of 1,301,267. The stock has a fifty day moving average of $1.43 and a 200 day moving average of $9.18. U Power has a twelve month low of $0.38 and a twelve month high of $49.80.

Wall Street Analyst Weigh In

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

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.