NaaS Technology Inc. (NASDAQ:NAAS) Short Interest Down 18.8% in July

NaaS Technology Inc. (NASDAQ:NAAS) saw a significant decline in short interest in July. As of July 31st, there was short interest totalling 450,100 shares, a decline of 18.8% from the July 15th total of 554,500 shares. Currently, 10.9% of the shares of the company are short sold. Based on an average daily trading volume, of 2,570,000 shares, the short-interest ratio is currently 0.2 days.

NaaS Technology Stock Performance

Shares of NASDAQ:NAAS remained flat at $4.25 during midday trading on Friday. The stock had a trading volume of 98,199 shares, compared to its average volume of 1,095,320. The company has a 50-day simple moving average of $4.27 and a two-hundred day simple moving average of $15.87. NaaS Technology has a 52-week low of $1.42 and a 52-week high of $146.60. The stock has a market cap of $54.74 million, a P/E ratio of -0.25 and a beta of 0.88.

NaaS Technology (NASDAQ:NAAS) last released its quarterly earnings results on Wednesday, July 24th. The company reported ($0.42) earnings per share for the quarter. The company had revenue of $12.62 million for the quarter. NaaS Technology had a negative return on equity of 885.88% and a negative net margin of 291.32%.

Hedge Funds Weigh In On NaaS Technology

An institutional investor recently raised its position in NaaS Technology stock. Laidlaw Wealth Management LLC boosted its stake in shares of NaaS Technology Inc. (NASDAQ:NAAS) by 242.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund owned 193,414 shares of the company’s stock after buying an additional 137,000 shares during the period. Laidlaw Wealth Management LLC owned 0.08% of NaaS Technology worth $294,000 at the end of the most recent quarter. 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 integrated online EV charging solutions to charging stations, 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.