Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) Short Interest Up 55.3% in December
by Doug Wharley · The Cerbat GemNano Labs Ltd. Sponsored ADR (NASDAQ:NA – Get Free Report) saw a significant increase in short interest in December. As of December 15th, there was short interest totaling 459,438 shares, an increase of 55.3% from the November 30th total of 295,847 shares. Currently, 1.6% of the company’s stock are short sold. Based on an average daily volume of 199,387 shares, the days-to-cover ratio is currently 2.3 days. Based on an average daily volume of 199,387 shares, the days-to-cover ratio is currently 2.3 days. Currently, 1.6% of the company’s stock are short sold.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in Nano Labs stock. Vontobel Holding Ltd. purchased a new stake in shares of Nano Labs Ltd. Sponsored ADR (NASDAQ:NA – Free Report) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 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 filing with the Securities and Exchange Commission (SEC). 50.68% of the stock is owned by institutional investors.
Nano Labs Stock Performance
Shares of NA traded down $0.07 during mid-day trading on Tuesday, hitting $3.04. The stock had a trading volume of 51,019 shares, compared to its average volume of 263,893. 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 company has a market cap of $89.74 million, a PE ratio of -0.56 and a beta of 3.12. Nano Labs has a fifty-two week low of $2.75 and a fifty-two week high of $31.48. The company’s fifty day simple moving average is $3.98 and its two-hundred day simple moving average is $5.67.
Nano Labs declared that its board has approved a stock buyback plan on Wednesday, October 15th that allows the company to repurchase $0.00 in shares. This repurchase authorization allows the company to repurchase shares of its stock through open market purchases. Shares repurchase plans are generally a sign that the company’s board believes its stock is undervalued.
Analysts Set New Price Targets
Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Labs in a report on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company has an average rating of “Sell”.
Get Our Latest Analysis on Nano Labs
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. In addition, it engages in the research and development of software. Its customers include enterprises and individual buyers.