U Power (NASDAQ:UCAR) Shares Set to Reverse Split on Monday, March 30th

U Power Limited (NASDAQ:UCAR) shares are going to reverse split on Monday, March 30th. The 1-10 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Sunday, March 29th.

U Power Trading Down 16.1%

NASDAQ UCAR opened at $0.10 on Thursday. The business’s fifty day simple moving average is $1.19 and its 200-day simple moving average is $1.65. U Power has a 52 week low of $0.09 and a 52 week high of $4.98.

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On U Power

A hedge fund recently raised its stake in U Power stock. Sabby Management LLC lifted its holdings in shares of U Power Limited (NASDAQ:UCAR) by 3,943.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 240,260 shares of the company’s stock after purchasing 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 biggest holding. Sabby Management LLC owned about 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.

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.