Nano Labs (NASDAQ:NA) Stock Price Up 1.7% – Here’s Why
by Mitch Edgeman · The Markets DailyNano Labs Ltd. Sponsored ADR (NASDAQ:NA – Get Free Report) shares were up 1.7% on Wednesday . The stock traded as high as $3.11 and last traded at $3.00. Approximately 59,784 shares traded hands during mid-day trading, an increase of 39% from the average daily volume of 43,134 shares. The stock had previously closed at $2.95.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Labs in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nano Labs has a consensus rating of “Sell”.
Check Out Our Latest Stock Report on NA
Nano Labs Trading Up 0.3%
The company has a current ratio of 1.81, a quick ratio of 1.76 and a debt-to-equity ratio of 0.28. The firm has a market cap of $87.38 million, a price-to-earnings ratio of -0.44 and a beta of 3.16. The company has a fifty day moving average price of $3.27 and a 200-day moving average price of $4.17.
Hedge Funds Weigh In On Nano Labs
Institutional investors have recently made changes to their positions in the company. Smartleaf Asset Management LLC boosted its holdings in Nano Labs by 91,223.6% during the third quarter. Smartleaf Asset Management LLC now owns 780,817 shares of the company’s stock worth $4,060,000 after buying an additional 779,962 shares in the last quarter. Vontobel Holding Ltd. purchased a new position in Nano Labs in the third quarter valued at $252,000. XTX Topco Ltd boosted its stake in shares of Nano Labs by 40.9% during the 4th quarter. XTX Topco Ltd now owns 36,641 shares of the company’s stock worth $115,000 after acquiring an additional 10,638 shares in the last quarter. Finally, Jane Street Group LLC purchased a new stake in shares of Nano Labs during the 4th quarter worth about $89,000. 50.68% of the stock is owned by hedge funds and other institutional investors.
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.