Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Short Interest Update

Key Points

• Nano Labs Ltd. experienced a significant drop in short interest, decreasing by 22.2% in August, down to 258,900 shares.
• The company's stock is currently trading at $5.04, with a twelve month low of $2.77 and a high of $31.48.
• Wall Street Zen has upgraded Nano Labs to a "hold" rating as of July 12th, indicating a potential shift in analyst sentiment.

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Get Free Report) was the target of a large decrease in short interest in August. As of August 15th, there was short interest totaling 258,900 shares, adecreaseof22.2% from the July 31st total of 332,900 shares. Currently,2.1% of the company's stock are sold short. Based on an average daily volume of 793,500 shares, the days-to-cover ratio is currently 0.3 days. Based on an average daily volume of 793,500 shares, the days-to-cover ratio is currently 0.3 days. Currently,2.1% of the company's stock are sold short.

Nano Labs Price Performance

NA traded up $0.09 on Tuesday, hitting $5.04. 91,525 shares of the company's stock were exchanged, compared to its average volume of 325,142. Nano Labs has a twelve month low of $2.77 and a twelve month high of $31.48. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.76. The stock has a fifty day moving average of $6.19 and a two-hundred day moving average of $5.95.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of Nano Labs to a "hold" rating in a research note on Saturday, July 12th.

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.

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.