Nano Labs (NASDAQ:NA) Trading Up 2.2% - Here's Why

Key Points

• Shares of Nano Labs Ltd. increased by 2.2%, closing at $6.11, with approximately 260,022 shares traded, a decrease of 57% compared to the average daily volume.
• Wall Street Zen has upgraded the rating for Nano Labs to "hold", reflecting a more positive outlook from analysts.
• The company's current ratio is reported at 1.81 and its debt-to-equity ratio is at 0.28, indicating a relatively stable financial position.

Nano Labs Ltd. Sponsored ADR (NASDAQ:NA - Get Free Report)'s share price shot up 2.2% on Wednesday . The stock traded as high as $6.30 and last traded at $6.11. 260,022 shares traded hands during trading, a decline of 57% from the average session volume of 598,759 shares. The stock had previously closed at $5.98.

Analysts Set New Price Targets

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

Nano Labs Stock Performance

The business's fifty day simple moving average is $6.64 and its 200-day simple moving average is $6.01. The company has a debt-to-equity ratio of 0.28, a current ratio of 1.81 and a quick ratio of 1.76.

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.