Short Interest in NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) Increases By 49.8%

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) was the target of a significant increase in short interest in the month of December. As of December 15th, there was short interest totaling 118,552 shares, an increase of 49.8% from the November 30th total of 79,135 shares. Currently, 6.7% of the company’s stock are short sold. Based on an average daily volume of 47,571 shares, the days-to-cover ratio is presently 2.5 days. Based on an average daily volume of 47,571 shares, the days-to-cover ratio is presently 2.5 days. Currently, 6.7% of the company’s stock are short sold.

NaaS Technology Stock Down 0.6%

Shares of NASDAQ:NAAS traded down $0.02 during trading on Tuesday, hitting $3.37. 2,344 shares of the stock traded hands, compared to its average volume of 139,469. NaaS Technology has a 52-week low of $1.96 and a 52-week high of $40.32. The company has a fifty day moving average price of $3.56 and a two-hundred day moving average price of $3.36. The company has a market cap of $7.28 million, a price-to-earnings ratio of -0.02 and a beta of 0.56.

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NAAS shares. Wall Street Zen raised NaaS Technology from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reissued a “sell (e+)” rating on shares of NaaS Technology in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, NaaS Technology presently has a consensus rating of “Sell”.

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.