NaaS Technology Inc. (NASDAQ:NAAS - Get Free Report) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 1,380,000 shares, a decline of 26.2% from the March 15th total of 1,870,000 shares. Based on an average daily volume of 1,210,000 shares, the days-to-cover ratio is presently 1.1 days. Approximately 1.7% of the company's shares are short sold.
Institutional Inflows and Outflows
A number of hedge funds have recently added to or reduced their stakes in NAAS. Point72 Asset Management L.P. bought a new stake in shares of NaaS Technology during the 2nd quarter valued at $28,000. Geode Capital Management LLC bought a new stake in shares of NaaS Technology during the 2nd quarter valued at $71,000. HighTower Advisors LLC bought a new stake in shares of NaaS Technology during the 3rd quarter valued at $55,000. Bristlecone Advisors LLC bought a new stake in shares of NaaS Technology during the 4th quarter valued at $27,000. Finally, EWA LLC bought a new stake in shares of NaaS Technology during the 4th quarter valued at $29,000. 1.83% of the stock is owned by hedge funds and other institutional investors.
NaaS Technology Trading Down 3.7 %
NaaS Technology stock traded down $0.04 during mid-day trading on Friday, reaching $1.05. 734,149 shares of the company traded hands, compared to its average volume of 1,186,976. The company has a debt-to-equity ratio of 3.26, a current ratio of 1.40 and a quick ratio of 1.37. The firm's 50 day moving average price is $1.40 and its 200 day moving average price is $2.01. The firm has a market capitalization of $270.46 million, a price-to-earnings ratio of -1.35 and a beta of 1.11. NaaS Technology has a 52-week low of $1.04 and a 52-week high of $12.04.
About NaaS Technology
(
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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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