U Power Ltd [NASDAQ: UCAR] jumped around 0.67 points on Monday, while shares priced at $5.37 at the close of the session, up 14.26%. The company report on April 8, 2024 at 6:00 AM that U Power To Launch Commercial Operation for its EV Battery Swapping System.
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 its battery-swapping and sharing model for two-wheeled and light four-wheeled electric vehicles (EVs) is poised for a formal commercial rollout in Wuhu, Anhui Province, China. The rollout, which is expected to take place during April 2024, follows a successful round of market validations in February. As part of this expansion, U Power plans to establish 60 power-swapping service points which will cater to over 800 customers.
The battery-swapping and sharing technology for two-wheeled and light four-wheeled EVs involves the use of identical battery cells and packaging methods. The battery packs for both types of EV are stored in a single battery-swapping station (BSS). When customers need to swap batteries, they can take one to two battery modules for two-wheeled EVs, or four to eight modules for light four-wheeled EVs. The battery-swapping process is straightforward and user-friendly, with the user verifying their identity at the BSS with their mobile phone and following a series of simple prompts to access and swap their batteries.
Compared to the average trading volume of 313.26K shares, UCAR reached a trading volume of 16462674 in the most recent trading day, which is why market watchdogs consider the stock to be active.
What do top market gurus say about U Power Ltd [UCAR]?
The Average True Range (ATR) for U Power Ltd is set at 1.27 The Price to Book ratio for the last quarter was 7.87, with the Price to Cash per share for the same quarter was set at 6.09.
How has UCAR stock performed recently?
U Power Ltd [UCAR] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -13.39. With this latest performance, UCAR shares dropped by -10.80% in over the last four-week period, additionally sinking by -98.59% 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 40.98, with the RSI for the last a single of trading hit 46.08, and the three-weeks RSI is set at 32.66 for U Power Ltd [UCAR]. The present Moving Average for the last 50 days of trading for this stock 7.02, while it was recorded at 5.52 for the last single week of trading, and 256.90 for the last 200 days.
U Power Ltd [UCAR]: Deeper insight into the 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.
Insider trade positions for U Power Ltd [UCAR]
The top three institutional holders of UCAR stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in UCAR stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in UCAR stock with ownership which is approximately 5.8386%.
