Nano Labs (NASDAQ:NA) Director Sells $25,121.25 in Stock

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Director Nan Hu sold 11,165 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $2.25, for a total transaction of $25,121.25. Following the transaction, the director directly owned 27,651 shares of the company’s stock, valued at $62,214.75. This represents a 28.76% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.

Nano Labs Price Performance

NASDAQ NA opened at $2.24 on Friday. The firm’s 50 day moving average is $1.91 and its 200-day moving average is $2.33. The company has a current ratio of 1.20, a quick ratio of 2.03 and a debt-to-equity ratio of 0.45. Nano Labs Ltd. Sponsored ADR has a 12-month low of $1.58 and a 12-month high of $6.10.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on NA. Weiss Ratings restated a “sell (d)” rating on shares of Nano Labs in a report on Tuesday, July 14th. Wall Street Zen upgraded Nano Labs to a “hold” rating in a report on Saturday, May 16th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nano Labs presently has an average rating of “Sell”.

Institutional Investors Weigh In On Nano Labs

Several hedge funds have recently added to or reduced their stakes in NA. Jane Street Group LLC acquired a new stake in shares of Nano Labs during the 4th quarter worth about $89,000. XTX Topco Ltd grew its stake in Nano Labs by 40.9% in the 4th quarter. XTX Topco Ltd now owns 36,641 shares of the company’s stock valued at $115,000 after buying an additional 10,638 shares during the last quarter. Finally, Vontobel Holding Ltd. grew its stake in Nano Labs by 9.3% in the 4th quarter. Vontobel Holding Ltd. now owns 51,045 shares of the company’s stock valued at $161,000 after buying an additional 4,364 shares during the last quarter. Institutional investors and hedge funds own 50.68% of the company’s stock.

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.