From MarketBeat:

NaaS Technology Inc. (NASDAQ: NAAS) had a large 29.4% growth in short interest in December, with a total of 742,800 shares shorted, equalling 1.3% of the company’s shares. The company’s short-interest ratio is currently 0.7 days based on an average daily volume of 1,131,400 shares.

Hedge funds and other institutional investors have bought and sold shares of NaaS Technology. Institutional ownership of the company is at 0.80%, with various institutions buying new stakes in shares of NaaS Technology.

Jefferies Financial Group initiated coverage on NaaS Technology with a “buy” rating and a $4.50 price objective on the stock.

NaaS Technology stock traded down 5.3% during mid-day trading on Tuesday, hitting $1.44. The stock has a 50-day simple moving average of $2.19 and a two-hundred day simple moving average of $4.19. NaaS Technology has a market capitalization of $352.17 million, a PE ratio of -2.48 and a beta of 1.21.

NaaS Technology Inc. provides electric vehicle (EV) charging services in China. The company offers online EV charging solutions and various SaaS products. The company last issued its earnings results on October 26th, reporting ($0.11) earnings per share.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with accurate reporting.

If you’re considering investing in NaaS Technology, know they currently have a “Buy” rating among analysts. However, top-rated analysts have identified five other stocks as better buys.



Read more: NaaS Technology Inc. (NASDAQ:NAAS) Short Interest Up 29.4% in December