NaaS Technology (NASDAQ:NAAS) Trading 7.5% Higher – Here’s What Happened

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS)’s share price was up 7.5% on Monday . The company traded as high as $2.61 and last traded at $2.59. Approximately 3,728 shares were traded during mid-day trading, a decline of 64% from the average daily volume of 10,269 shares. The stock had previously closed at $2.41.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on NAAS. Wall Street Zen upgraded shares of NaaS Technology from a “sell” rating to a “hold” rating in a report on Saturday, October 18th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of NaaS Technology in a research report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, NaaS Technology currently has a consensus rating of “Sell”.

NaaS Technology Stock Up 7.5%

The firm has a market cap of $5.59 million, a P/E ratio of -0.03 and a beta of 0.56. The stock’s 50-day moving average is $3.27 and its 200-day moving average is $3.33.

NaaS Technology (NASDAQ:NAAS) last issued its quarterly earnings results 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.