Nan Hu Sells 11,165 Shares of Nano Labs (NASDAQ:NA) Stock

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Director Nan Hu sold 11,165 shares of the business’s stock in a transaction dated Tuesday, September 1st. The shares were sold at an average price of $2.25, for a total transaction of $25,121.25. Following the completion of the sale, the director directly owned 27,651 shares of the company’s stock, valued at approximately $62,214.75. This trade represents a 28.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

Nano Labs Price Performance

Shares of NA stock opened at $2.24 on Friday. The company’s 50-day simple moving average is $1.90 and its two-hundred day simple moving average is $2.34. Nano Labs Ltd. Sponsored ADR has a one year low of $1.58 and a one year high of $6.10. The company has a debt-to-equity ratio of 0.45, a quick ratio of 2.03 and a current ratio of 1.20.

Nano Labs (NASDAQ:NA) last posted its quarterly earnings results on Friday, August 28th. The company reported ($2.01) earnings per share for the quarter. The firm had revenue of $0.20 million for the quarter.

Hedge Funds Weigh In On Nano Labs

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Jane Street Group LLC bought a new position in Nano Labs in the fourth quarter worth approximately $89,000. XTX Topco Ltd boosted its position in Nano Labs by 40.9% during the 4th quarter. XTX Topco Ltd now owns 36,641 shares of the company’s stock valued at $115,000 after acquiring an additional 10,638 shares in the last quarter. Finally, Vontobel Holding Ltd. boosted its position in Nano Labs by 9.3% during the 4th quarter. Vontobel Holding Ltd. now owns 51,045 shares of the company’s stock valued at $161,000 after acquiring an additional 4,364 shares in the last quarter. 50.68% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NA. Weiss Ratings reissued a “sell (d)” rating on shares of Nano Labs in a research report on Tuesday, July 14th. Wall Street Zen upgraded Nano Labs to a “hold” rating in a report on Saturday, May 16th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Nano Labs Company Profile

Nano Labs Ltd operates as a fabless integrated circuit design company and product solution provider in the People's Republic of China and internationally. It develops high throughput computing and high-performance computing chips. The company also offers distributed computing and storage solutions, smart network interface cards, and vision computing chips, as well as distributed rendering technology. In addition, it engages in the research and development of software. Its customers include enterprises and individual buyers.