Short Interest in NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) Rises By 41.5%

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 104,568 shares, an increase of 41.5% from the January 15th total of 73,909 shares. Approximately 5.9% of the shares of the company are short sold. Based on an average daily trading volume, of 11,920 shares, the short-interest ratio is currently 8.8 days. Based on an average daily trading volume, of 11,920 shares, the short-interest ratio is currently 8.8 days. Approximately 5.9% of the shares of the company are short sold.

NaaS Technology Price Performance

NAAS opened at $2.53 on Friday. NaaS Technology has a one year low of $1.96 and a one year high of $40.32. The firm has a market capitalization of $5.46 million, a P/E ratio of -0.03 and a beta of 0.56. The company has a fifty day moving average price of $3.20 and a 200-day moving average price of $3.32.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on NAAS. Weiss Ratings restated a “sell (e+)” rating on shares of NaaS Technology in a research report on Thursday, January 22nd. Wall Street Zen upgraded NaaS Technology from a “sell” rating to a “hold” rating in a research note on Saturday, October 18th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently 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.