NaaS Technology (NASDAQ:NAAS) Hits New 12-Month Low at $5.23

Shares of NaaS Technology Inc. (NASDAQ:NAAS) hit a new 52-week low on Friday . The company traded as low as $5.23 and last traded at $5.23, with a volume of 51648 shares trading hands. The stock had previously closed at $7.09.

NaaS Technology Price Performance

The company has a market cap of $73.80 million, a PE ratio of -0.34 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.15 and a debt-to-equity ratio of 3.26. The firm has a 50 day simple moving average of $13.71 and a 200-day simple moving average of $24.72.

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

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Bristlecone Advisors LLC acquired a new stake in NaaS Technology in the fourth quarter worth about $27,000. EWA LLC purchased a new position in shares of NaaS Technology in the 4th quarter valued at approximately $29,000. Finally, Laidlaw Wealth Management LLC boosted 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 worth $294,000 after purchasing an additional 137,000 shares in the last quarter. 1.83% of the stock is currently owned by hedge funds and other 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.