U Power (NASDAQ:UCAR) Trading 1.7% Higher – Still a Buy?

Shares of U Power Limited (NASDAQ:UCAR) shot up 1.7% on Friday . The company traded as high as $1.9071 and last traded at $1.82. 5,066 shares were traded during mid-day trading, a decline of 83% from the average session volume of 29,628 shares. The stock had previously closed at $1.79.

Analyst Ratings Changes

A number of research firms recently commented on UCAR. Weiss Ratings reissued a “sell (e+)” rating on shares of U Power in a research report on Wednesday, October 8th. Maxim Group assumed coverage on shares of U Power in a report on Tuesday, September 9th. They set a “buy” rating and a $5.00 price target on the stock. One analyst has rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $5.00.

U Power Trading Up 1.7%

The business’s fifty day moving average is $2.00 and its 200-day moving average is $2.55.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in U Power stock. Sabby Management LLC raised its holdings in shares of U Power Limited (NASDAQ:UCAR) by 3,943.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 240,260 shares of the company’s stock after purchasing an additional 234,318 shares during the quarter. U Power makes up approximately 0.6% of Sabby Management LLC’s portfolio, making the stock its 11th largest holding. Sabby Management LLC owned 5.44% of U Power worth $485,000 at the end of the most recent quarter. 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.