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United Time Technology Co., Ltd. (UTME)

NasdaqCM - NasdaqCM Real Time Price. Currency in USD
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47.41-4.63 (-8.90%)
At close: 4:00PM EDT
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Neutralpattern detected
Previous Close52.04
Open50.30
Bid47.30 x 800
Ask51.00 x 1100
Day's Range47.29 - 51.96
52 Week Range47.29 - 51.96
Volume84,348
Avg. VolumeN/A
Market Cap391.976M
Beta (5Y Monthly)N/A
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • UTime IPO Evokes Dot-Com Era’s Giddiness With  2,600% Rally
    Bloomberg

    UTime IPO Evokes Dot-Com Era’s Giddiness With 2,600% Rally

    (Bloomberg) -- Every quarter or so in the U.S. equity capital markets, there’s a least one debut by a tiny company which completely blows up charts and traders’ minds. This current contender? UTime Ltd.The Chinese maker of mobile phones and accessories went public on Tuesday in New York at $4 share. By Wednesday, the stock hit a peak of $107.33, up nearly 2,600% from its offering price. The company, valued at about $33 million at its debut, now has a market capitalization around $350 million even after the stock retreated Thursday.At 875%, its first-day “pop” -- as the debut session is known -- gave UTime the best debut in the U.S. since Internet service provider Freeserve Plc jumped by 1,261% during the dot-com frenzy in 1999, according to data compiled by Bloomberg for companies that raised more than $10 million.Representatives for the company didn’t eply to an email seeking comment.UTime is off the charts, but it’s not the only IPO darling in recent years.The company was the latest of 22 IPOs in the U.S. to surge by at least 800% in their debuts over the past decade, according to data compiled by Bloomberg. These firms are fairly small -- UTime was the largest of the group raising $15 million. Their listings also tend to be managed by boutique banks. Boustead Securities, Brilliant Norton Securities and Fosun Hani Securities handled the UTime IPO.While it’s showing signs of slowing, the IPO market registered a record quarter in the first three months of the year with $215 billion of proceeds, but nearly $100 billion of that came from the record wave of issuance by special-purpose acquisition companies.One trader defined the price action seen with UTime as mind-blowing, but also an indication of investors’ desire to find and snatch “early on,” what could become a new hot stock. The stocks that fit this profile -- small in size with the deal managed by smaller banks - tend to be highly volatile. True to form, UTime is already making its way back down to earth. Shares closed at $42.30 in New York, down 48.5% on the day.(Updates market value in second paragraph and close share prices in last parargaph)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

  • UTime stock more than doubles, and is now 2,175% above its IPO price
    MarketWatch

    UTime stock more than doubles, and is now 2,175% above its IPO price

    Shares of UTime Ltd. soared 133.3% in very volatile afternoon trading Wednesday, enough to pace all gainers on major U.S. exchanges, in the China-based mobile phone maker's second day of trading on the Nasdaq. On Tuesday, the stock closed at $39, or 875% above its $4 initial public offering price, which was at the low end of the expected range of between $4 and $5 a share. The company sold 3.75 million shares in the IPO to raise $15 million. With the stock now trading nearly 23 times the IPO price, the company's current market value was $752.4 million, up from $33.1 million at the IPO price. The stock has been halted nine times for volatility so far on Wednesday, after being halted 14 times for volatility on Tuesday. The company recorded a net loss of RMB21.7 million ($3.1 million) on revenue of RMB193.1 million ($27.3 million) in 2020, after a loss of RMB11.9 million on revenue of RMB238.1 million in 2019. The company went public at a time that the Renaissance IPO ETF has lost 4.7% over the past three months, while the iShares MSCI China ETF has slipped 1.4% and the S&P 500 has gained 7.3%.

  • UTime Limited Announces Pricing of Initial Public Offering
    PR Newswire

    UTime Limited Announces Pricing of Initial Public Offering

    UTime Limited ("UTime" or the "Company") (Nasdaq: UTME), a mobile device manufacturing company committed to providing cost effective products and solutions to consumers globally, today announced the pricing of its initial public offering of 3,750,000 shares of its ordinary shares at a price of US$4.00 per share to the public for a total of US$15 million of gross proceeds to UTime.