Shares of NaaS Technology Inc. (NASDAQ:NAAS – Get Free Report) dropped 6.4% during trading on Thursday . The stock traded as low as $1.15 and last traded at $1.17. Approximately 77,882 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 432,092 shares. The stock had previously closed at $1.25.
NaaS Technology Stock Down 6.4%
The firm has a market cap of $10.09 million, a P/E ratio of -0.12 and a beta of 1.09. The firm’s 50-day simple moving average is $1.48 and its 200 day simple moving average is $4.71.
NaaS Technology announced that its board has initiated a stock repurchase plan on Friday, February 21st that allows the company to repurchase $0.00 in outstanding shares. This repurchase authorization allows the company to buy shares of its stock through open market purchases. Shares repurchase plans are typically an indication that the company’s leadership believes its stock is undervalued.
About NaaS Technology
NaaS Technology Inc provides electric vehicle (EV) charging services in China. The company offers integrated online EV charging solutions to charging stations, 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.
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