NaaS Technology Inc. (NASDAQ:NAAS) Short Interest Update

NaaS Technology Inc. (NASDAQ:NAAS) saw a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 1,380,000 shares, a drop of 26.2% from the March 15th total of 1,870,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average trading volume of 1,210,000 shares, the days-to-cover ratio is currently 1.1 days.

NaaS Technology Stock Performance

Shares of NAAS traded down $0.04 on Friday, reaching $1.05. 734,829 shares of the company’s stock traded hands, compared to its average volume of 924,966. The company has a current ratio of 1.40, a quick ratio of 1.37 and a debt-to-equity ratio of 3.26. The stock has a market cap of $270.46 million, a PE ratio of -1.33 and a beta of 1.11. The stock’s 50 day simple moving average is $1.39 and its two-hundred day simple moving average is $1.97. NaaS Technology has a 52-week low of $1.04 and a 52-week high of $12.04.

Institutional Trading of NaaS Technology

A number of institutional investors and hedge funds have recently modified their holdings of the business. Point72 Asset Management L.P. purchased a new stake in NaaS Technology in the second quarter worth $28,000. Geode Capital Management LLC purchased a new stake in NaaS Technology in the second quarter worth $71,000. HighTower Advisors LLC purchased a new stake in NaaS Technology in the third quarter worth $55,000. Bristlecone Advisors LLC purchased a new stake in NaaS Technology in the fourth quarter worth $27,000. Finally, EWA LLC bought a new position in shares of NaaS Technology in the fourth quarter worth $29,000. 1.83% of the stock is owned by hedge funds and other institutional investors.

About NaaS Technology

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.