Nano Labs (NASDAQ:NA) Director Nan Hu Sells 4,092 Shares

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Director Nan Hu sold 4,092 shares of the stock in a transaction on Monday, April 20th. The shares were sold at an average price of $2.71, for a total value of $11,089.32. Following the completion of the sale, the director owned 49,316 shares in the company, valued at approximately $133,646.36. The trade was a 7.66% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website.

Nan Hu also recently made the following trade(s):

• On Friday, April 17th, Nan Hu sold 1,633 shares of Nano Labs stock. The shares were sold at an average price of $2.86, for a total value of $4,670.38.
• On Wednesday, April 15th, Nan Hu sold 2,557 shares of Nano Labs stock. The shares were sold at an average price of $3.10, for a total value of $7,926.70.
• On Wednesday, April 15th, Nan Hu sold 893 shares of Nano Labs stock. The shares were sold at an average price of $3.14, for a total value of $2,804.02.

Nano Labs Price Performance

Nano Labs stock traded down $0.15 during midday trading on Wednesday, reaching $2.28. The company’s stock had a trading volume of 40,452 shares, compared to its average volume of 55,071. Nano Labs Ltd. Sponsored ADR has a fifty-two week low of $2.13 and a fifty-two week high of $31.48. The company has a quick ratio of 2.03, a current ratio of 2.09 and a debt-to-equity ratio of 0.23. The business has a 50-day simple moving average of $2.98 and a 200-day simple moving average of $3.62.

Analysts Set New Price Targets

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

Hedge Funds Weigh In On Nano Labs

Several hedge funds have recently made changes to their positions in the company. XTX Topco Ltd grew its holdings in shares of Nano Labs by 40.9% during the fourth quarter. XTX Topco Ltd now owns 36,641 shares of the company’s stock worth $115,000 after purchasing an additional 10,638 shares during the last quarter. Vontobel Holding Ltd. grew its holdings in shares of Nano Labs by 9.3% during the fourth quarter. Vontobel Holding Ltd. now owns 51,045 shares of the company’s stock worth $161,000 after purchasing an additional 4,364 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Nano Labs during the fourth quarter worth about $89,000. Finally, Smartleaf Asset Management LLC grew its holdings in shares of 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 purchasing an additional 779,962 shares during the last quarter. Hedge funds and other institutional investors own 50.68% of the company’s stock.

About Nano Labs

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.