E-Power Inc. (NASDAQ:EPOW) shares jumped 37.72% to $0.62 in pre-market trading on Friday.
Shares of the Chinese manufacturer and seller of graphite anode material closed on Thursday at $0.45, up 4.43%, according to Benzinga Pro data.
Contract Win Fuels Investor Optimism
The rally follows E-Power’s announcement on Thursday that its subsidiary, Shandong Sunrise Technology Co., Ltd., secured a turnkey equipment and technology services contract worth roughly RMB 343.5 million ($51.1 million) with China-based manufacturer of special electronic and metal materials Shandong Fusion New Material Co., Ltd.
The deal is E-Power’s largest technology and equipment award to date. It covers two production lines in Laiwu District, Jinan, Shandong Province. One is an artificial graphite anode line with an annual capacity of 20,000 tons, while the other is a silicon-carbon anode line with an annual capacity of 1,000 tons.
CEO Haiping Hu said, “This award reflects something we have believed for a long time: the process know-how we have accumulated in building and operating our own anode plants is itself a valuable asset.”
He added, “We believe that the delivery of a complete artificial graphite line, together with a silicon-carbon line, demonstrates our team’s ability to execute industrial-scale projects for third-party customers, not only for ourselves.”
Trading Metrics, Technical Analysis
E-Power has a market capitalization of $26 million, a 52-week high of $1.86 and a 52-week low of $0.35.
The Relative Strength Index (RSI) of EPOW stands at 42.76.
The stock has dropped 49.66% over the past 12 months.
EPOW is currently trading near its annual low.
Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.
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