Short Interest in NaaS Technology Inc. (NASDAQ:NAAS) Increases By 29.0%

NaaS Technology Inc. (NASDAQ:NAAS - Get Free Report) was the recipient of a large growth in short interest in the month of March. As of March 15th, there was short interest totalling 1,870,000 shares, a growth of 29.0% from the February 29th total of 1,450,000 shares. Based on an average trading volume of 1,310,000 shares, the days-to-cover ratio is currently 1.4 days.

Institutional Trading of NaaS Technology

Institutional investors have recently made changes to their positions in the business. Bank of America Corp DE boosted its position in shares of NaaS Technology by 4,856.6% during the 1st quarter. Bank of America Corp DE now owns 30,582 shares of the company's stock valued at $326,000 after acquiring an additional 29,965 shares in the last quarter. Citadel Advisors LLC acquired a new position in NaaS Technology in the second quarter valued at about $246,000. ExodusPoint Capital Management LP acquired a new position in NaaS Technology in the second quarter valued at about $213,000. Millennium Management LLC acquired a new position in NaaS Technology in the fourth quarter valued at about $106,000. Finally, Pathstone Holdings LLC acquired a new position in NaaS Technology in the fourth quarter valued at about $99,000. 1.83% of the stock is currently owned by institutional investors and hedge funds.

NaaS Technology Stock Performance

NASDAQ NAAS traded down $0.14 during midday trading on Monday, hitting $1.10. The company had a trading volume of 1,642,689 shares, compared to its average volume of 1,260,918. The company has a quick ratio of 1.48, a current ratio of 1.50 and a debt-to-equity ratio of 3.26. The stock has a market cap of $269.02 million, a price-to-earnings ratio of -1.39 and a beta of 1.11. The firm has a fifty day simple moving average of $1.44 and a two-hundred day simple moving average of $2.20. NaaS Technology has a fifty-two week low of $1.07 and a fifty-two week high of $12.78.

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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