Short Interest in NaaS Technology Inc. (NASDAQ:NAAS) Declines By 18.6%

NaaS Technology Inc. (NASDAQ:NAAS) was the target of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 261,600 shares, a decline of 18.6% from the August 31st total of 321,300 shares. Currently, 6.3% of the shares of the stock are short sold. Based on an average trading volume of 2,600,000 shares, the days-to-cover ratio is currently 0.1 days.

NaaS Technology Trading Up 3.4 %

Shares of NaaS Technology stock traded up $0.12 on Friday, reaching $3.61. 894,965 shares of the company were exchanged, compared to its average volume of 83,935. NaaS Technology has a fifty-two week low of $1.42 and a fifty-two week high of $93.60. The firm has a market capitalization of $46.50 million, a price-to-earnings ratio of -0.21 and a beta of 0.88. The stock has a fifty day moving average price of $4.23 and a 200-day moving average price of $10.01.

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

Institutional Investors Weigh In On NaaS Technology

An institutional investor recently raised its position in NaaS Technology stock. Laidlaw Wealth Management LLC boosted its position in shares of NaaS Technology Inc. (NASDAQ:NAAS) by 242.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 193,414 shares of the company’s stock after purchasing 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 reporting period. 1.83% of the stock is currently owned by institutional investors and hedge funds.

NaaS Technology Company Profile

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.