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

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

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on NAAS. 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 equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Sell”.

NaaS Technology Stock Performance

Shares of NAAS stock traded up $0.02 during trading hours on Friday, reaching $3.28. 49,288 shares of the company’s stock were exchanged, compared to its average volume of 21,086. The company’s 50 day moving average is $3.49 and its two-hundred day moving average is $3.31. NaaS Technology has a 1 year low of $1.96 and a 1 year high of $40.32.

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

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.