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

Key Points

• Short interest in Nano Labs Ltd. dropped by 41.9% in September, with a total of 117,800 shares sold short by month's end.
• The stock currently holds a consensus rating of “Sell”, following various analyst ratings, including a “hold” from Wall Street Zen and a “sell” from Weiss Ratings.
• Institutions own approximately 50.68% of Nano Labs, with Vontobel Holding Ltd. recently acquiring a stake of 46,681 shares valued at around $252,000.

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Get Free Report) saw a large drop in short interest in the month of September. As of September 30th, there was short interest totaling 117,800 shares, a drop of 41.9% from the September 15th total of 202,600 shares. Based on an average trading volume of 357,500 shares, the short-interest ratio is currently 0.3 days. Approximately 1.0% of the company's stock are sold short. Approximately 1.0% of the company's stock are sold short. Based on an average trading volume of 357,500 shares, the short-interest ratio is currently 0.3 days.

Analyst Upgrades and Downgrades

NA has been the subject of several recent analyst reports. Wall Street Zen raised shares of Nano Labs to a "hold" rating in a report on Saturday, July 12th. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of Nano Labs in a report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of "Sell".

Institutional Trading of Nano Labs

A hedge fund recently bought a new stake in Nano Labs stock. Vontobel Holding Ltd. bought a new stake in shares of Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Free Report) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 46,681 shares of the company's stock, valued at approximately $252,000. Vontobel Holding Ltd. owned about 0.16% of Nano Labs at the end of the most recent quarter. 50.68% of the stock is owned by institutional investors and hedge funds.

Nano Labs Stock Up 0.6%

Shares of NA traded up $0.03 during mid-day trading on Tuesday, hitting $5.14. 9,978 shares of the company traded hands, compared to its average volume of 299,297. The company has a quick ratio of 1.76, a current ratio of 1.81 and a debt-to-equity ratio of 0.28. The stock has a 50-day moving average price of $5.22 and a two-hundred day moving average price of $5.99. Nano Labs has a 1 year low of $2.77 and a 1 year high of $31.48.

Nano Labs declared that its board has authorized a stock repurchase plan on Wednesday, October 15th that authorizes the company to buyback $0.00 in shares. This buyback authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares buyback plans are typically a sign that the company's leadership believes its shares are undervalued.

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.

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