Quanome Technologies, Inc. (NASDAQ:QNME) shares are trending on Tuesday.

Shares of the technology company soared 51.66% to $0.97 in Monday’s after-hours trading.

Board Shakeup

According to the Monday Securities and Exchange Commission filing, the resignation was effective immediately, with the company stating the departure was not tied to any disagreement over operations or policies.

The board subsequently elected Chao Liu as an independent director to fill the vacancy, bringing the board to five members, a majority of whom are independent under Nasdaq rules.

$18.8 Million AI Infrastructure Deal

According to a Monday Securities and Exchange Commission filing, Quanome entered into a purchase and sale agreement with Compal Electronics, Inc. on Sept. 16, for an aggregate purchase price of approximately $18.8 million. The company is required to pay 20% upfront, with the remaining 80% due prior to shipment.

The servers are expected to be delivered to a U.S. data center, and the company said it intends to deploy them for its artificial intelligence computing infrastructure business.

Board Also Sees Change

In a separate filing the same day, Quanome disclosed that director Xiaoou Li had resigned from the board, effective immediately. The company said the resignation was not due to any disagreement over its operations or policies. The board elected Chao Liu as an independent director to fill the vacancy, bringing the board to five members, a majority of whom are independent under Nasdaq rules.

Trading Metrics, Technical Analysis

Quanome has a market capitalization of $21.95 million, a 52-week high of $1.20 and a 52-week low of $0.26. The company has approximately 34.43 million shares outstanding.

The Relative Strength Index (RSI) of QNME stands at 60.32.

The small-cap stock has fallen 50.03% over the past 12 months.

QNME is currently trading at about 45% of its 52-week range.

Price Action: The stock closed the regular session on Monday at $0.64, up 14.56%, according to Benzinga Pro data.

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Disclaimer: This content was partially produced with the help of AI tools and was reviewed and published by Benzinga editors.

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