U Power Ltd [NASDAQ: UCAR] surged by $0.0 during the normal trading session on while it closed the day at $0.05. 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.
U Power Ltd stock has also loss -7.12% of its value over the past 7 days. However, UCAR stock has declined by -73.27% in the 3 months of the year. Over the past six months meanwhile, it has lost -98.77% and lost -70.14% year-on date.
The market cap for UCAR stock reached $2.88 million, with 52.50 million shares outstanding and 15.02 million shares in the current float. Compared to the average trading volume of 29.83M shares, UCAR reached a trading volume of 42704416 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say 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 0.08, with the Price to Cash per share for the same quarter was set at 0.29.
UCAR stock trade performance evaluation
U Power Ltd [UCAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -7.12. With this latest performance, UCAR shares dropped by -34.53% in over the last four-week period, additionally sinking by -98.77% 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 32.64, with the RSI for the last a single of trading hit 37.70, and the three-weeks RSI is set at 26.71 for U Power Ltd [UCAR]. The present Moving Average for the last 50 days of trading for this stock 0.0924, while it was recorded at 0.0528 for the last single week of trading, and 3.0968 for the last 200 days.
U Power Ltd [UCAR]: An insightful look at the core fundamentals
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.
U Power Ltd [UCAR]: Institutional Ownership
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%.
