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

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

Nano Labs Price Performance

Shares of NASDAQ:NA traded up $0.18 during trading on Wednesday, hitting $2.18. 50,821 shares of the company’s stock traded hands, compared to its average volume of 168,164. The company has a current ratio of 1.20, a quick ratio of 2.03 and a debt-to-equity ratio of 0.45. The company has a 50-day moving average price of $1.88 and a 200-day moving average price of $2.35. Nano Labs Ltd. Sponsored ADR has a 52 week low of $1.58 and a 52 week high of $6.10.

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

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Vontobel Holding Ltd. grew its stake in Nano Labs by 9.3% in the fourth quarter. Vontobel Holding Ltd. now owns 51,045 shares of the company’s stock valued at $161,000 after purchasing an additional 4,364 shares in the last quarter. XTX Topco Ltd raised 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 purchasing an additional 10,638 shares in the last quarter. Finally, Jane Street Group LLC bought a new stake in shares of Nano Labs during the 4th quarter worth approximately $89,000. 50.68% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on NA shares. Wall Street Zen raised shares of Nano Labs to a “hold” rating in a research report on Saturday, May 16th. Weiss Ratings reissued a “sell (d)” rating on shares of Nano Labs in a research note on Tuesday, July 14th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

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.