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

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Director Nan Hu sold 11,165 shares of the 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 owned 27,651 shares of the company’s stock, valued at $62,214.75. This trade represents a 28.76% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Nano Labs Price Performance

NASDAQ:NA opened at $2.11 on Thursday. The company’s 50-day moving average price is $1.89 and its 200-day moving average price is $2.34. The company has a debt-to-equity ratio of 0.45, a current ratio of 1.20 and a quick ratio of 2.03. Nano Labs Ltd. Sponsored ADR has a twelve month low of $1.58 and a twelve month high of $6.10.

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 company had revenue of $0.20 million for the quarter.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of NA. XTX Topco Ltd grew its holdings in shares of Nano Labs by 40.9% in the fourth quarter. XTX Topco Ltd now owns 36,641 shares of the company’s stock valued at $115,000 after purchasing an additional 10,638 shares during the period. Vontobel Holding Ltd. increased its position in 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. Finally, Jane Street Group LLC purchased a new position in Nano Labs during the fourth quarter worth about $89,000. Institutional investors and hedge funds own 50.68% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on NA. Wall Street Zen upgraded Nano Labs to a “hold” rating in a report on Saturday, May 16th. Weiss Ratings reaffirmed a “sell (d)” rating on shares of Nano Labs in a report on Tuesday, July 14th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Nano Labs currently has a consensus rating of “Sell”.

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.