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 significant drop in short interest in February. As of February 13th, there was short interest totaling 59,815 shares, a drop of 42.8% from the January 29th total of 104,568 shares. Based on an average daily volume of 6,878 shares, the short-interest ratio is currently 8.7 days. Approximately 3.4% of the shares of the stock are sold short. Approximately 3.4% of the shares of the stock are sold short. Based on an average daily volume of 6,878 shares, the short-interest ratio is currently 8.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of NaaS Technology in a report on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, NaaS Technology currently has a consensus rating of “Sell”.

NaaS Technology Stock Performance

NASDAQ:NAAS traded down $0.16 during trading hours on Friday, reaching $2.19. The company’s stock had a trading volume of 10,998 shares, compared to its average volume of 5,773. The firm has a market capitalization of $4.73 million, a price-to-earnings ratio of -0.02 and a beta of 0.59. The firm has a 50-day simple moving average of $2.93 and a 200-day simple moving average of $3.30. NaaS Technology has a 1 year low of $1.96 and a 1 year high of $21.44.

NaaS Technology Company Profile

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.