NaaS Technology Inc. (NASDAQ:NAAS) Sees Significant Decline in Short Interest

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in NaaS Technology stock. Laidlaw Wealth Management LLC increased its stake in shares of NaaS Technology Inc. (NASDAQ:NAAS) by 242.8% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,414 shares of the company’s stock after acquiring an additional 137,000 shares during the quarter. Laidlaw Wealth Management LLC owned about 0.08% of NaaS Technology worth $294,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 1.83% of the company’s stock.

NaaS Technology Stock Performance

NaaS Technology stock remained flat at $4.25 during trading hours on Friday. The company’s stock had a trading volume of 98,199 shares, compared to its average volume of 1,095,320. The firm has a 50 day moving average price of $4.27 and a 200-day moving average price of $15.87. NaaS Technology has a 52-week low of $1.42 and a 52-week high of $146.60. The firm has a market capitalization of $54.74 million, a price-to-earnings ratio of -0.25 and a beta of 0.88.

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

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.