Short Interest in NaaS Technology Inc. (NASDAQ:NAAS) Increases By 677.7%

NaaS Technology Inc. (NASDAQ:NAAS) saw a large increase in short interest in July. As of July 15th, there was short interest totalling 554,500 shares, an increase of 677.7% from the June 30th total of 71,300 shares. Approximately 13.4% of the shares of the stock are short sold. Based on an average trading volume of 2,480,000 shares, the short-interest ratio is presently 0.2 days.

NaaS Technology Price Performance

NASDAQ NAAS traded down $0.75 during trading hours on Thursday, hitting $5.30. 1,154,339 shares of the company’s stock traded hands, compared to its average volume of 1,176,171. NaaS Technology has a 52-week low of $1.42 and a 52-week high of $146.60. The company has a market capitalization of $68.26 million, a PE ratio of -0.31 and a beta of 0.89. The firm’s 50-day moving average is $5.42 and its 200-day moving average is $18.38.

NaaS Technology (NASDAQ:NAAS) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.40) earnings per share for the quarter. NaaS Technology had a negative net margin of 376.49% and a negative return on equity of 885.88%. The firm had revenue of $13.33 million during the quarter.

Institutional Trading of NaaS Technology

Several hedge funds have recently made changes to their positions in the company. Bristlecone Advisors LLC acquired a new position in shares of NaaS Technology in the 4th quarter worth approximately $27,000. EWA LLC acquired a new position in shares of NaaS Technology in the 4th quarter worth approximately $29,000. Finally, Laidlaw Wealth Management LLC lifted its holdings in shares of NaaS Technology by 242.8% in the 4th quarter. Laidlaw Wealth Management LLC now owns 193,414 shares of the company’s stock worth $294,000 after acquiring an additional 137,000 shares during the last quarter. Hedge funds and other institutional investors own 1.83% of the company’s stock.

NaaS Technology Company Profile

NaaS Technology Inc provides electric vehicle (EV) charging services in China. The company offers online EV charging solutions, including mobility connectivity services through Kuaidian; SaaS products, such as traffic support and management, marketing, payment, chargers' management, order management, load management, and membership management.