NaaS Technology Inc. (NASDAQ:NAAS) Short Interest Update

NaaS Technology Inc. (NASDAQ:NAAS) was the recipient of a significant decline in short interest in June. As of June 30th, there was short interest totalling 71,300 shares, a decline of 16.7% from the June 15th total of 85,600 shares. Based on an average daily trading volume, of 856,200 shares, the short-interest ratio is currently 0.1 days. Currently, 1.7% of the shares of the stock are sold short.

NaaS Technology Stock Performance

NAAS stock traded down $0.66 during trading on Friday, reaching $4.21. 1,289,525 shares of the company were exchanged, compared to its average volume of 2,873,223. NaaS Technology has a 52-week low of $1.42 and a 52-week high of $146.60. The company has a market cap of $54.22 million, a P/E ratio of -0.25 and a beta of 0.89. The stock’s 50 day moving average price is $7.17 and its 200 day moving average price is $19.88.

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

Institutional Trading of NaaS Technology

Several institutional investors and hedge funds have recently modified their holdings of the business. Bristlecone Advisors LLC purchased a new position in shares of NaaS Technology during the fourth quarter valued at approximately $27,000. EWA LLC acquired a new position in NaaS Technology during the fourth quarter worth approximately $29,000. Finally, Laidlaw Wealth Management LLC increased its position in NaaS Technology by 242.8% during the fourth quarter. Laidlaw Wealth Management LLC now owns 193,414 shares of the company’s stock worth $294,000 after purchasing an additional 137,000 shares during the last quarter. Hedge funds and other institutional investors own 1.83% of the company’s stock.

About NaaS Technology

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.