U Power Ltd. (NASDAQ: UCAR ) shares are trending on Thursday.
Shares of the Chinese battery-swapping company surged 26.89% to $3.02, extending its intraday rally to 331.63% after the company announced a $3.19 million capital raise through a private placement .
According to Benzinga Pro data, the stock closed the regular session at $2.38,
$3.19M Offshore Share Sale Fuels Expansion Push
The company plans to use the proceeds to fund market expansion, scale operations and accelerate deployment of its proprietary battery-swapping infrastructure.
Earlier in April, UCAR also executed a 10-for-1 reverse stock split , consolidating its share count and adjusting its CUSIP number.
Trading Metrics, Technical Analysis
U Power has a market capitalization of $5.09 million and a 52-week trading range of $0.38 to $49.80.
The stock has a Relative Strength Index (RSI) of 38.88.
Over the past 12 months, the small-cap stock has dropped 91.25%. In contrast, it has risen 349.14% over the past five days.
Currently, the stock is positioned very close to its 52-week low, at roughly 4.05% up in the range.
Benzinga’s Edge Stock Rankings indicate UCAR stock has a negative price trend across all time frames.
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