Nano Labs (NASDAQ:NA) Stock Price Up 1.7% – Still a Buy?

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA)’s share price was up 1.7% on Wednesday . The stock traded as high as $3.11 and last traded at $3.00. Approximately 59,784 shares changed hands during 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 reissued a “sell (d-)” rating on shares of Nano Labs in a research note on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nano Labs presently has a consensus rating of “Sell”.

Nano Labs Stock Performance

The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.76 and a current ratio of 1.81. The stock has a market cap of $88.56 million, a PE ratio of -0.44 and a beta of 3.16. The firm has a fifty day moving average price of $3.27 and a 200 day moving average price of $4.18.

Institutional Investors Weigh In On Nano Labs

Large investors have recently modified their holdings of the business. XTX Topco Ltd increased 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 valued at $115,000 after acquiring an additional 10,638 shares in the last quarter. Vontobel Holding Ltd. grew its position in Nano Labs by 9.3% during the 4th 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 acquired a new position in Nano Labs during the 4th quarter valued at approximately $89,000. Finally, Smartleaf Asset Management LLC raised its holdings in shares of Nano Labs by 91,223.6% in 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 during the last quarter. Hedge funds and other institutional investors own 50.68% of the company’s stock.

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.