Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Sees Large Decline in Short Interest

Key Points

• Nano Labs Ltd. experienced a significant decline in short interest, falling by 39.5% from August to September, with only 1.6% of its stock currently short sold.
• As of recent trading, Nano Labs' stock price fell by 1.2% to $5.60, with a trading volume below its average.
• Analyst ratings for Nano Labs are mixed, with Wall Street Zen upgrading it to a "hold" and Weiss Ratings maintaining a "sell (d-)" rating, resulting in a consensus rating of "Sell."

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Get Free Report) was the recipient of a large decline in short interest in September. As of September 15th, there was short interest totaling 202,600 shares, a decline of 39.5% from the August 31st total of 334,900 shares. Currently, 1.6% of the company's stock are short sold. Based on an average trading volume of 720,500 shares, the short-interest ratio is presently 0.3 days. Based on an average trading volume of 720,500 shares, the short-interest ratio is presently 0.3 days. Currently, 1.6% of the company's stock are short sold.

Nano Labs Stock Down 1.2%

NASDAQ:NA traded down $0.07 during mid-day trading on Friday, hitting $5.60. 102,788 shares of the company's stock traded hands, compared to its average volume of 172,083. The company has a fifty day moving average of $5.18 and a 200 day moving average of $5.92. Nano Labs has a twelve month low of $2.77 and a twelve month high of $31.48. The company has a current ratio of 1.81, a quick ratio of 1.76 and a debt-to-equity ratio of 0.28.

Analyst Upgrades and Downgrades

NA has been the subject of several recent research reports. Wall Street Zen raised Nano Labs to a "hold" rating in a research report on Saturday, July 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Labs in a research report on Saturday, September 27th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.