NaaS Technology Inc. (NASDAQ:NAAS – Get Free Report) 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 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.
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