NaaS Technology Inc. (NASDAQ:NAAS) Short Interest Down 18.6% in September

NaaS Technology Inc. (NASDAQ:NAAS) saw a large drop in short interest in September. As of September 15th, there was short interest totalling 261,600 shares, a drop of 18.6% from the August 31st total of 321,300 shares. Currently, 6.3% of the company’s stock are sold short. Based on an average trading volume of 2,600,000 shares, the short-interest ratio is presently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in NaaS Technology stock. Laidlaw Wealth Management LLC lifted its holdings in shares of NaaS Technology Inc. (NASDAQ:NAAS) by 242.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,414 shares of the company’s stock after buying an additional 137,000 shares during the period. Laidlaw Wealth Management LLC owned approximately 0.08% of NaaS Technology worth $294,000 at the end of the most recent reporting period. 1.83% of the stock is owned by institutional investors.

NaaS Technology Price Performance

NASDAQ:NAAS traded up $0.12 during mid-day trading on Friday, reaching $3.61. The stock had a trading volume of 894,965 shares, compared to its average volume of 83,935. The company has a market capitalization of $46.50 million, a price-to-earnings ratio of -0.21 and a beta of 0.88. NaaS Technology has a 1-year low of $1.42 and a 1-year high of $93.60. The stock’s 50 day simple moving average is $4.23 and its two-hundred day simple moving average is $9.88.

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

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.