U Power Ltd [NASDAQ: UCAR] loss -1.99% or 0.0 points to close at $0.06 with a heavy trading volume of 13132804 shares. The company report on February 23, 2024 at 5:00 AM that U Power Limited Enters into a Memorandum of Understanding with Durapower Holdings Pte Ltd.
U Power Limited (Nasdaq: UCAR) (the “Company” or “U Power”), a vehicle sourcing services provider with a vision to becoming a comprehensive EV battery power solution provider in China, today announced that it has entered into a Memorandum of Understanding (the “MOU”) on February 6, 2024, with Durapower Holdings Pte Ltd. (“Durapower”), a Singapore-based lithium-ion battery manufacturer.
Pursuant to the MOU, U Power and Durapower intend to jointly explore several areas relating to battery swapping technology applications for electric vehicles and ships used for medium- and short-distance transportation, mining trucks used for ore transfer, and logistical vehicles used for urban cold chain distribution. U Power and Durapower also intend to cooperate to establish a “battery banking” business model based on intelligent battery swapping technology, and collaborate on marketing efforts to promote awareness of the technology in Singapore and elsewhere.
The daily chart for UCAR points out that the company has recorded -98.68% loss over the past six months.
If we look at the average trading volume of 29.79M shares, UCAR reached to a volume of 13132804 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here is what top equities market gurus are saying about U Power Ltd [UCAR]:
The Average True Range (ATR) for U Power Ltd is set at 0.01 The Price to Book ratio for the last quarter was 0.09, with the Price to Cash per share for the same quarter was set at 0.29.
Trading performance analysis for UCAR stock
U Power Ltd [UCAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -24.36. With this latest performance, UCAR shares dropped by -10.47% in over the last four-week period, additionally sinking by -98.68% over the last 6 months.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for UCAR stock in for the last two-week period is set at 29.69, with the RSI for the last a single of trading hit 32.32, and the three-weeks RSI is set at 25.07 for U Power Ltd [UCAR]. The present Moving Average for the last 50 days of trading for this stock 0.1056, while it was recorded at 0.0662 for the last single week of trading, and 3.1846 for the last 200 days.
U Power Ltd [UCAR]: A deeper dive into fundamental analysis
U Power Ltd’s liquidity data is similarly interesting compelling, with a Quick Ratio of 2.06 and a Current Ratio set at 2.40.
An analysis of Institutional ownership at U Power Ltd [UCAR]
The top three institutional holders of UCAR stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in UCAR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in UCAR stock with ownership which is approximately 5.8325%.
