Short Interest in Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Grows By 29.4%

Key Points

• Nano Labs Ltd. experienced a significant increase in short interest, rising by 29.4% in August, bringing the total to 334,900 shares, which is 2.7% of the company's stock.
• Wall Street Zen upgraded Nano Labs to a "hold" rating in early July, indicating a more positive outlook for the company's stock.
• As of the latest trading day, Nano Labs shares depreciated by 1.8%, reaching $4.92, with the company having a one-year range of $2.77 to $31.48.

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Get Free Report) was the recipient of a large growth in short interest in August. As of August 31st, there was short interest totaling 334,900 shares, a growth of 29.4% from the August 15th total of 258,900 shares. Currently, 2.7% of the shares of the stock are short sold. Based on an average daily volume of 750,400 shares, the short-interest ratio is currently 0.4 days. Based on an average daily volume of 750,400 shares, the short-interest ratio is currently 0.4 days. Currently, 2.7% of the shares of the stock are short sold.

Nano Labs Stock Up 4.0%

Shares of NASDAQ NA traded up $0.21 during mid-day trading on Friday, reaching $5.41. 116,733 shares of the company were exchanged, compared to its average volume of 200,635. Nano Labs has a 52 week low of $2.77 and a 52 week high of $31.48. 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 company's 50 day moving average price is $5.65 and its 200 day moving average price is $5.90.

Analyst Upgrades and Downgrades

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

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.