Short Interest in NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) Drops By 38.5%

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) was the recipient of a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 72,887 shares, a drop of 38.5% from the December 15th total of 118,552 shares. Currently, 4.1% of the company’s stock are sold short. Based on an average daily trading volume, of 30,451 shares, the short-interest ratio is currently 2.4 days. Based on an average daily trading volume, of 30,451 shares, the short-interest ratio is currently 2.4 days. Currently, 4.1% of the company’s stock are sold short.

NaaS Technology Stock Performance

NASDAQ NAAS traded up $0.02 on Friday, hitting $3.28. 49,288 shares of the stock traded hands, compared to its average volume of 21,086. The business’s fifty day moving average is $3.49 and its two-hundred day moving average is $3.31. NaaS Technology has a 12 month low of $1.96 and a 12 month high of $40.32. The firm has a market capitalization of $7.08 million, a price-to-earnings ratio of -0.04 and a beta of 0.55.

NaaS Technology (NASDAQ:NAAS) last issued its quarterly earnings results on Tuesday, October 14th. The company reported $0.00 EPS for the quarter.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NaaS Technology in a report on Wednesday, October 8th. Wall Street Zen raised NaaS Technology from a “sell” rating to a “hold” rating in a research report on Saturday, October 18th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, NaaS Technology has a consensus rating of “Sell”.

About NaaS Technology

NaaS Technology, Inc is a U.S.-based network-as-a-service provider that designs, builds and operates high-performance fiber networks for enterprise customers. The company offers subscription-based connectivity solutions that combine fiber transport, software-defined wide area networking (SD-WAN) and edge computing capabilities. By leveraging its proprietary infrastructure and network orchestration platform, NaaS delivers reliable, scalable bandwidth without the capital-intensive investment typically required for on-premises networks.

The company’s product portfolio includes dedicated fiber circuits, cloud on-ramps to leading public cloud providers, private wireless solutions and managed SD-WAN services.