U Power Ltd. (NASDAQ:UCAR) shares surged 27.21% to $1.73 in the after-hours session on Thursday following multiple Securities and Exchange Commission filings submitted by company officials.
What You Should Know
A Thursday SEC filing revealed CEO Jia Li purchased over 1.8 million Class A ordinary shares at $1.64 apiece on May 6, totaling approximately $3 million.
The buy was a direct open-market purchase, not a stock grant or award, suggesting strong insider conviction in the company. Li also holds shares indirectly through three British Virgin Islands-registered entities he fully owns.
On the same day, three company executives, Chief Financial Officer Bingyi Zhao, Director Quanshi Chen and Xiaochun Li, filed initial ownership disclosures with the SEC.
Zhao disclosed indirect ownership of 12,245 Class A shares via U Battery Limited.
The new energy commercial vehicle company recently completed a 10-for-1 share consolidation effective Apr. 1.
Trading Metrics, Technical Analysis
U Power has a market capitalization of $31.53 million. Its stock has traded between a 52-week high of $49.80 and a 52-week low of $0.38.
UCAR's Relative Strength Index (RSI) is 39.14.
Over the past 12 months, the stock of the technology company has dropped 95.31%.
Currently, UCAR is positioned close to its annual low.
Price Action: According to Benzinga Pro data, the stock closed the regular session at $1.36, up 8.80%.
Benzinga’s Edge Stock Rankings indicate that UCAR has a negative price trend across all time frames.
Photo Courtesy: Gorodenkoff on Shutterstock.com
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.