Short Interest in NaaS Technology Inc. (NASDAQ:NAAS) Drops By 18.6%

NaaS Technology Inc. (NASDAQ:NAAS) was the target of a significant decrease in short interest in the month of September. As of September 15th, there was short interest totalling 261,600 shares, a decrease of 18.6% from the August 31st total of 321,300 shares. Approximately 6.3% of the company’s shares are short sold. Based on an average trading volume of 2,600,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On NaaS Technology

An institutional investor recently raised its position in NaaS Technology stock. Laidlaw Wealth Management LLC grew its holdings in NaaS Technology Inc. (NASDAQ:NAAS) by 242.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 193,414 shares of the company’s stock after purchasing an additional 137,000 shares during the period. Laidlaw Wealth Management LLC owned about 0.08% of NaaS Technology worth $294,000 as of its most recent filing with the Securities & Exchange Commission. 1.83% of the stock is currently owned by institutional investors.

NaaS Technology Trading Up 10.8 %

NAAS stock opened at $3.49 on Friday. The stock has a market cap of $44.95 million, a PE ratio of -0.21 and a beta of 0.88. NaaS Technology has a 12 month low of $1.42 and a 12 month high of $97.00. The company has a 50-day moving average price of $4.38 and a 200 day moving average price of $10.24.

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

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.