Smartleaf Asset Management LLC Has $4.06 Million Stock Holdings in Nano Labs Ltd. Sponsored ADR $NA

Smartleaf Asset Management LLC raised its position in Nano Labs Ltd. Sponsored ADR (NASDAQ:NA) by 91,223.6% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 780,817 shares of the company’s stock after buying an additional 779,962 shares during the period. Smartleaf Asset Management LLC owned about 2.65% of Nano Labs worth $4,060,000 as of its most recent filing with the SEC.

Separately, Vontobel Holding Ltd. acquired a new position in shares of Nano Labs during the third quarter valued at $252,000. 50.68% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of Nano Labs in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Nano Labs Stock Performance

NA stock opened at $3.14 on Friday. Nano Labs Ltd. Sponsored ADR has a twelve month low of $2.75 and a twelve month high of $31.48. 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 $92.69 million, a P/E ratio of -0.46 and a beta of 3.16. The business’s fifty day moving average is $3.35 and its 200-day moving average is $4.48.

Nano Labs announced that its Board of Directors has authorized a share repurchase plan on Wednesday, October 15th that permits the company to repurchase $0.00 in outstanding shares. This repurchase authorization permits the company to purchase shares of its stock through open market purchases. Stock repurchase plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Nano Labs Profile

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.