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

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

Analyst Ratings Changes

A number of research firms recently commented on UCAR. Wall Street Zen lowered shares of U Power from a “sell” rating to a “strong sell” rating in a research note on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of U Power in a research report on Monday, April 20th. One research analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $50.00.

U Power Stock Performance

U Power stock opened at $1.22 on Tuesday. The business has a 50 day simple moving average of $1.44 and a 200 day simple moving average of $8.98. U Power has a one year low of $0.38 and a one year high of $49.80.

Institutional Inflows and Outflows

An institutional investor recently raised its position in U Power stock. Bank of America Corp DE boosted its position in U Power Limited (NASDAQ:UCAR) by 132,855,200.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund 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 filing with the SEC. 13.21% of the stock is currently owned by institutional investors.

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.