Share Buyback Plan Announced by NaaS Technology (NASDAQ:NAAS) Board

NaaS Technology (NASDAQ:NAAS) declared that its board has authorized a share buyback plan on Friday, February 21st, RTT News reports. The company plans to repurchase $0.00 in shares. This repurchase authorization authorizes the company to buy shares of its stock through open market purchases. Stock repurchase plans are often a sign that the company’s leadership believes its stock is undervalued.

NaaS Technology Stock Performance

Shares of NASDAQ:NAAS traded up $0.24 during midday trading on Friday, reaching $1.63. The company had a trading volume of 84,400,675 shares, compared to its average volume of 2,613,295. The company has a fifty day simple moving average of $1.74 and a two-hundred day simple moving average of $2.86. The firm has a market cap of $26.99 million, a price-to-earnings ratio of -0.16 and a beta of 0.94. NaaS Technology has a 1-year low of $1.30 and a 1-year high of $34.20.

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.