Nano Labs Ltd (NASDAQ:NA) price is hovering lower on current market day and dropping -13.69% below its previous close.
A look at today’s price movement shows that the recent level at last check reads $0.93, with intraday deals fluctuating between $0.78 and $0.985. Taking into account the 52-week price action we note that the stock hit a 52-week high of $4.75 and 52-week low of $0.27. The stock added 170.28% on its value in the past month.
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Nano Labs Ltd, which has a market valuation of $60.17 million, is expected to release its quarterly earnings report in November.
Technical indicators in stocks provide crucial insights into market trends, guiding investors with precise entry and exit points based on price movements for informed decision-making.On the technical perspective front, indicators give NA a short term outlook of 50% Buy on average. Looking at the stock’s medium term indicators we note that it is averaging as a 50% Sell, while an average of long term indicators are currently assigning the stock as Hold.
The overview shows that NA’s price is at present 93.53% off the SMA20 and 123.27% from the SMA50. The Relative Strength Index (RSI) metric on the 14-day timeframe is pointing at 65.88, with weekly volatility standing at 62.53%. The indicator jumps to 22.74% when calculated based on the past 30 days. Nano Labs Ltd (NASDAQ:NA)’s beta value is holding at 2.74, while the average true range (ATR) indicator is currently reading 0.12.
An analysis of the Nano Labs Ltd (NASDAQ:NA) stock in terms of its daily trading volume indicates that the 3-month average is 277.90K. However, this figure increases on the past 10-day timeline to an average of 1.48 million.
Current records show that the company has 41.93M in outstanding shares. The insiders’ percentage holdings are 87.28% of outstanding shares while the percentage share held by institutions stands at 0.27%. The stats also highlight that short interest as of 2024-09-13, stood at 41883.0 shares, which puts the short ratio at the time at 0.69. From this we can glean that short interest is 128.00 of company’s current outstanding shares. Notably, we see that shares short in September rose slightly given the previous month’s figure stood at 29440.0. But the -55.59% downside, the stock’s price has registered year-to-date as of today’s value, will likely reignite investor interest given the prospect of it rallying even higher.
