Heights Capital Management Inc. Reduces Holdings in Nano Labs Ltd. Sponsored ADR $NA

Heights Capital Management Inc. lowered its position in shares of Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) by 92.3% during the third quarter, Holdings Channel reports. The firm owned 111,033 shares of the company’s stock after selling 1,328,985 shares during the quarter. Heights Capital Management Inc.’s holdings in Nano Labs were worth $600,000 as of its most recent filing with the SEC.

Separately, Smartleaf Asset Management LLC boosted its position in shares of Nano Labs by 91,223.6% in the 3rd quarter. Smartleaf Asset Management LLC now owns 780,817 shares of the company’s stock valued at $4,060,000 after purchasing an additional 779,962 shares during the period. Institutional investors and hedge funds own 50.68% of the company’s stock.

Nano Labs Stock Up 4.6%

NA stock opened at $3.16 on Wednesday. The company has a market cap of $93.30 million, a price-to-earnings ratio of -0.46 and a beta of 3.16. The company has a fifty day moving average price of $3.23 and a 200 day moving average price of $4.03. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.76. Nano Labs Ltd. Sponsored ADR has a 12 month low of $2.74 and a 12 month high of $31.48.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Nano Labs in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nano Labs presently has a consensus rating of “Sell”.

Nano Labs 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.