NaaS Technology Inc. (NASDAQ:NAAS) Sees Large Decrease in Short Interest

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

NaaS Technology Stock Performance

Shares of NASDAQ:NAAS traded down $0.47 during midday trading on Thursday, hitting $2.89. The stock had a trading volume of 417,354 shares, compared to its average volume of 64,040. The company has a market capitalization of $37.22 million, a PE ratio of -0.17 and a beta of 0.98. The stock has a 50 day moving average price of $10.77 and a two-hundred day moving average price of $22.53. 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 has a 1 year low of $2.85 and a 1 year high of $146.60.

NaaS Technology (NASDAQ:NAAS) last announced 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 company had revenue of $13.33 million during the quarter.

Institutional Trading of NaaS Technology

Several hedge funds and other institutional investors have recently made changes to their positions in NAAS. Laidlaw Wealth Management LLC lifted its stake in shares of NaaS Technology by 242.8% in the fourth quarter. Laidlaw Wealth Management LLC now owns 193,414 shares of the company’s stock valued at $294,000 after purchasing an additional 137,000 shares during the period. EWA LLC acquired a new stake in shares of NaaS Technology in the fourth quarter valued at about $29,000. Finally, Bristlecone Advisors LLC acquired a new stake in shares of NaaS Technology in the fourth quarter valued at about $27,000. Institutional investors and hedge funds 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 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.