Nano Labs (NASDAQ:NA) Given "Sell (D-)" Rating at Weiss Ratings

Key Points

• Nano Labs has received a "Sell (D-)" rating from Weiss Ratings, indicating negative sentiment from analysts.
• While Weiss Ratings maintained a bearish outlook, Wall Street Zen upgraded Nano Labs to a "hold" rating, highlighting mixed analyst perspectives.
• The company has initiated a stock repurchase program, which is generally seen as a sign that management believes the stock is undervalued.

Nano Labs (NASDAQ:NA - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by equities research analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Separately, Wall Street Zen raised Nano Labs to a "hold" rating in a research report on Saturday, July 12th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nano Labs currently has an average rating of "Sell".

Nano Labs Stock Performance

NASDAQ:NA opened at $4.87 on Friday. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.76. Nano Labs has a 1 year low of $2.77 and a 1 year high of $31.48. The stock's 50 day simple moving average is $5.27 and its two-hundred day simple moving average is $6.00. The company has a market cap of $143.76 million, a price-to-earnings ratio of -0.90 and a beta of 3.15.

Nano Labs declared that its Board of Directors has initiated a stock repurchase program on Wednesday, October 15th that permits the company to repurchase $0.00 in shares. This repurchase authorization permits the company to repurchase shares of its stock through open market purchases. Stock repurchase programs are typically an indication that the company's leadership believes its stock is undervalued.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Nano Labs stock. Vontobel Holding Ltd. bought a new position in shares of Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 46,681 shares of the company's stock, valued at approximately $252,000. Vontobel Holding Ltd. owned 0.16% of Nano Labs as of its most recent SEC filing. Institutional investors own 50.68% of the company's stock.

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.