NaaS Technology (NASDAQ:NAAS) Trading 7.5% Higher – Should You Buy?

NaaS Technology Inc. (NASDAQ:NAAS) shares were up 7.5% during mid-day trading on Thursday . The company traded as high as $2.18 and last traded at $2.15. Approximately 89,807 shares changed hands during trading, a decline of 88% from the average daily volume of 748,685 shares. The stock had previously closed at $2.00.

NaaS Technology Stock Up 7.5 %

The business’s 50 day moving average price is $2.60 and its 200-day moving average price is $3.55. The company has a market cap of $27.69 million, a PE ratio of -0.22 and a beta of 0.90.

Hedge Funds Weigh In On NaaS Technology

A hedge fund recently bought a new stake in NaaS Technology stock. LMR Partners LLP acquired a new stake in shares of NaaS Technology Inc. (NASDAQ:NAAS) during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 221,832 shares of the company’s stock, valued at approximately $885,000. LMR Partners LLP owned about 1.72% of NaaS Technology at the end of the most recent reporting period. 1.83% of the stock is owned by institutional investors and hedge funds.

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.