U Power Limited (NASDAQ:UCAR – Free Report)’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 Trading Down 2.8%
U Power stock opened at $0.47 on Friday. The stock has a 50-day moving average price of $0.91 and a 200 day moving average price of $2.82. U Power has a 52 week low of $0.38 and a 52 week high of $21.90.
Wall Street Analysts Forecast Growth
Several research firms have issued reports on UCAR. Wall Street Zen raised shares of U Power from a “strong sell” rating to a “sell” rating in a research note on Sunday, July 12th. Weiss Ratings reissued a “sell (e+)” rating on shares of U Power in a research report on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $50.00.
Institutional Investors Weigh In On U Power
An institutional investor recently raised its stake in U Power stock. Bank of America Corp DE boosted its holdings in U Power Limited (NASDAQ:UCAR – Free Report) by 132,855,200.0% in the 1st quarter, according to its most recent disclosure with the Securities and 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 as of its most recent filing with the Securities and Exchange Commission. 13.21% of the stock is currently owned by hedge funds and other institutional investors.
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.
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