NaaS Technology (NASDAQ:NAAS) Shares Gap Down to $7.26

NaaS Technology Inc. (NASDAQ:NAAS) shares gapped down prior to trading on Thursday . The stock had previously closed at $7.26, but opened at $6.98. NaaS Technology shares last traded at $7.09, with a volume of 7,281 shares changing hands.

NaaS Technology Trading Down 19.2 %

The company has a 50 day simple moving average of $13.71 and a 200-day simple moving average of $24.88. The company has a quick ratio of 1.12, a current ratio of 1.15 and a debt-to-equity ratio of 3.26.

NaaS Technology (NASDAQ:NAAS) last posted its quarterly earnings results on Thursday, May 9th. The company reported ($1.40) earnings per share for the quarter. The firm had revenue of $13.33 million for the quarter. NaaS Technology had a negative return on equity of 885.88% and a negative net margin of 376.49%.

Hedge Funds Weigh In On NaaS Technology

Several institutional investors have recently modified their holdings of NAAS. Bristlecone Advisors LLC purchased a new position in NaaS Technology in the fourth quarter valued at about $27,000. EWA LLC purchased a new position in NaaS Technology in the 4th quarter valued at approximately $29,000. Finally, Laidlaw Wealth Management LLC grew its stake in NaaS Technology by 242.8% in the 4th quarter. Laidlaw Wealth Management LLC now owns 193,414 shares of the company’s stock valued at $294,000 after buying an additional 137,000 shares in the last quarter. 1.83% of the stock is owned by institutional investors.

About NaaS Technology

NaaS Technology Inc provides electric vehicle (EV) charging services in China. The company offers online EV charging solutions, including mobility connectivity services through Kuaidian; SaaS products, such as traffic support and management, marketing, payment, chargers' management, order management, load management, and membership management.