NaaS Technology Inc. (NASDAQ:NAAS - Get Free Report) saw a large drop in short interest in April. As of April 15th, there was short interest totalling 363,100 shares, a drop of 56.2% from the March 31st total of 828,300 shares. Approximately 8.8% of the company's stock are short sold. Based on an average trading volume of 1,950,000 shares, the days-to-cover ratio is currently 0.2 days.
NaaS Technology Price Performance
NAAS stock traded down $0.05 during midday trading on Friday, hitting $1.30. The company's stock had a trading volume of 271,506 shares, compared to its average volume of 407,773. The company's fifty day moving average price is $2.92 and its 200 day moving average price is $6.91. NaaS Technology has a twelve month low of $1.23 and a twelve month high of $76.80. The stock has a market capitalization of $11.22 million, a P/E ratio of -0.13 and a beta of 1.03.
NaaS Technology announced that its board has initiated a stock repurchase program on Friday, February 21st that authorizes the company to buyback $0.00 in outstanding shares. This buyback authorization authorizes the company to buy shares of its stock through open market purchases. Stock buyback programs are typically a sign that the company's board believes its stock is undervalued.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in NaaS Technology stock. U.S. Capital Wealth Advisors LLC acquired a new stake in NaaS Technology Inc. (NASDAQ:NAAS - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor acquired 30,645 shares of the company's stock, valued at approximately $61,000. U.S. Capital Wealth Advisors LLC owned about 0.19% of NaaS Technology at the end of the most recent quarter. Hedge funds and other institutional investors own 1.83% of the company's stock.
NaaS Technology Company Profile
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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.
Further Reading
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