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

NaaS Technology Inc. (NASDAQ:NAAS) saw 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. Based on an average trading volume of 59,200 shares, the days-to-cover ratio is presently 1.4 days. Currently, 2.1% of the company’s shares are short sold.

Institutional Investors Weigh In On NaaS Technology

A number of large investors have recently added to or reduced their stakes in the company. Laidlaw Wealth Management LLC raised its holdings in 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 acquiring an additional 137,000 shares in the last quarter. EWA LLC acquired a new stake in NaaS Technology in the fourth quarter valued at $29,000. Finally, Bristlecone Advisors LLC acquired a new stake in NaaS Technology in the fourth quarter valued at $27,000. 1.83% of the stock is owned by institutional investors and hedge funds.

NaaS Technology Trading Down 15.9 %

Shares of NASDAQ NAAS traded down $0.46 on Friday, reaching $2.43. 225,826 shares of the company traded hands, compared to its average volume of 65,375. NaaS Technology has a fifty-two week low of $2.41 and a fifty-two week high of $146.60. The company has a 50 day moving average of $10.77 and a 200 day moving average 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 (NASDAQ:NAAS) last announced its quarterly earnings results on Thursday, May 9th. The company reported ($1.40) earnings per share (EPS) for the quarter. The company had revenue of $13.33 million during the quarter. NaaS Technology had a negative net margin of 376.49% and a negative return on equity of 885.88%.

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.