NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) Sees Large Increase in Short Interest

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) was the target of a large growth in short interest in January. As of January 30th, there was short interest totaling 104,568 shares, a growth of 41.5% from the January 15th total of 73,909 shares. Approximately 5.9% of the shares of the stock are short sold. Based on an average trading volume of 11,920 shares, the days-to-cover ratio is presently 8.8 days. Based on an average trading volume of 11,920 shares, the days-to-cover ratio is presently 8.8 days. Approximately 5.9% of the shares of the stock are short sold.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NaaS Technology in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company currently has an average rating of “Sell”.

NaaS Technology Price Performance

NAAS opened at $2.53 on Tuesday. The stock has a market capitalization of $5.46 million, a P/E ratio of -0.03 and a beta of 0.56. The company’s 50 day simple moving average is $3.18 and its 200-day simple moving average is $3.32. NaaS Technology has a one year low of $1.96 and a one year high of $40.32.

NaaS Technology (NASDAQ:NAAS) last posted its quarterly earnings data on Tuesday, October 14th. The company reported $0.00 earnings per share (EPS) for the quarter.

NaaS Technology Company Profile

NaaS Technology, Inc is a U.S.-based network-as-a-service provider that designs, builds and operates high-performance fiber networks for enterprise customers. The company offers subscription-based connectivity solutions that combine fiber transport, software-defined wide area networking (SD-WAN) and edge computing capabilities. By leveraging its proprietary infrastructure and network orchestration platform, NaaS delivers reliable, scalable bandwidth without the capital-intensive investment typically required for on-premises networks.

The company’s product portfolio includes dedicated fiber circuits, cloud on-ramps to leading public cloud providers, private wireless solutions and managed SD-WAN services.