Short Interest in NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) Declines By 42.8%

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) was the target of a large decrease in short interest in February. As of February 13th, there was short interest totaling 59,815 shares, a decrease of 42.8% from the January 29th total of 104,568 shares. Currently, 3.4% of the company’s shares are short sold. Based on an average trading volume of 6,878 shares, the days-to-cover ratio is currently 8.7 days. Based on an average trading volume of 6,878 shares, the days-to-cover ratio is currently 8.7 days. Currently, 3.4% of the company’s shares are short sold.

NaaS Technology Stock Performance

Shares of NAAS stock traded down $0.16 during trading on Friday, hitting $2.19. 10,998 shares of the company were exchanged, compared to its average volume of 6,912. The firm has a market capitalization of $4.73 million, a price-to-earnings ratio of -0.02 and a beta of 0.56. The business’s 50-day simple moving average is $2.93 and its 200 day simple moving average is $3.29. NaaS Technology has a twelve month low of $1.96 and a twelve month high of $21.44.

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

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of NaaS Technology in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, NaaS Technology presently has an average 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.