U Power (NASDAQ:UCAR) Trading 3.5% Higher – Here’s Why

Shares of U Power Limited (NASDAQ:UCAR) rose 3.5% during mid-day trading on Friday . The company traded as high as $1.6350 and last traded at $1.49. Approximately 58,819 shares traded hands during mid-day trading, an increase of 48% from the average daily volume of 39,837 shares. The stock had previously closed at $1.44.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of U Power in a research note on Wednesday, January 21st. One investment analyst has rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $5.00.

U Power Stock Performance

The stock’s fifty day moving average is $1.49 and its two-hundred day moving average is $1.81.

U Power (NASDAQ:UCAR) last announced its quarterly earnings results on Friday, October 10th. The company reported ($2.90) EPS for the quarter. The business had revenue of $1.24 million for the quarter.

Hedge Funds Weigh In On U Power

An institutional investor recently raised its position in U Power stock. Sabby Management LLC raised its holdings in shares of U Power Limited (NASDAQ:UCAR) by 3,943.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 240,260 shares of the company’s stock after buying an additional 234,318 shares during the quarter. U Power comprises about 0.6% of Sabby Management LLC’s holdings, making the stock its 11th largest position. Sabby Management LLC owned 5.44% of U Power worth $485,000 at the end of the most recent quarter. 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.