NaaS Technology (NASDAQ:NAAS) Stock Price Down 5.1% – Time to Sell?

NaaS Technology Inc. (NASDAQ:NAAS) shares traded down 5.1% during mid-day trading on Wednesday . The company traded as low as $2.18 and last traded at $2.25. 151,038 shares traded hands during trading, a decline of 81% from the average session volume of 783,921 shares. The stock had previously closed at $2.37.

NaaS Technology Stock Performance

The firm has a market cap of $27.31 million, a P/E ratio of -0.22 and a beta of 0.90. The firm has a 50 day simple moving average of $3.06 and a 200 day simple moving average of $3.98.

Hedge Funds Weigh In On NaaS Technology

A hedge fund recently bought a new stake in NaaS Technology stock. LMR Partners LLP purchased a new stake in shares of NaaS Technology Inc. (NASDAQ:NAAS) in the third quarter, according to its most recent 13F filing with the SEC. The fund purchased 221,832 shares of the company’s stock, valued at approximately $885,000. LMR Partners LLP owned approximately 1.72% of NaaS Technology at the end of the most recent reporting period. Institutional investors own 1.83% of the company’s stock.

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.