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

NaaS Technology Inc. (NASDAQ:NAAS) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totalling 254,800 shares, a drop of 25.5% from the September 30th total of 342,200 shares. Based on an average daily volume of 245,400 shares, the days-to-cover ratio is currently 1.0 days. Approximately 6.1% of the company’s stock are short sold.

NaaS Technology Stock Performance

Shares of NASDAQ NAAS traded up $0.05 during midday trading on Friday, hitting $3.11. 114,006 shares of the stock traded hands, compared to its average volume of 878,833. NaaS Technology has a one year low of $1.42 and a one year high of $74.90. The business has a 50 day moving average price of $3.69 and a two-hundred day moving average price of $7.17. The company has a market cap of $40.05 million, a PE ratio of -0.18 and a beta of 0.87.

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

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.