Short Interest in NaaS Technology Inc. (NASDAQ:NAAS) Drops By 95.0%

NaaS Technology Inc. (NASDAQ:NAAS) was the recipient of a large decrease in short interest during the month of June. As of June 15th, there was short interest totalling 85,600 shares, a decrease of 95.0% from the May 31st total of 1,700,000 shares. Currently, 2.1% of the company’s stock are sold short. Based on an average daily volume of 59,200 shares, the short-interest ratio is presently 1.4 days.

NaaS Technology Trading Down 15.9 %

Shares of NAAS opened at $2.43 on Friday. NaaS Technology has a 12 month low of $2.41 and a 12 month high of $146.60. The stock has a fifty day moving average price of $10.43 and a 200-day moving average price of $22.26. The company has a current ratio of 1.15, a quick ratio of 1.12 and a debt-to-equity ratio of 3.26.

NaaS Technology (NASDAQ:NAAS) last issued its quarterly earnings data on Thursday, May 9th. The company reported ($1.40) EPS for the quarter. NaaS Technology had a negative net margin of 376.49% and a negative return on equity of 885.88%. The business had revenue of $13.33 million for the quarter.

Hedge Funds Weigh In On NaaS Technology

Several hedge funds have recently made changes to their positions in NAAS. Bristlecone Advisors LLC acquired a new position in shares of NaaS Technology in the 4th quarter valued at $27,000. EWA LLC acquired a new position in shares of NaaS Technology in the 4th quarter valued at $29,000. Finally, Laidlaw Wealth Management LLC increased its position in shares of NaaS Technology by 242.8% in the 4th quarter. Laidlaw Wealth Management LLC now owns 193,414 shares of the company’s stock valued at $294,000 after acquiring an additional 137,000 shares during the period. 1.83% of the stock is 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 online EV charging solutions, 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.