NaaS Technology (NASDAQ:NAAS) to Repurchase $0.00 in Shares

NaaS Technology (NASDAQ:NAAS) announced that its Board of Directors has authorized a stock buyback program on Friday, February 21st, RTT News reports. The company plans to repurchase $0.00 in outstanding shares. This repurchase authorization authorizes the company to repurchase shares of its stock through open market purchases. Shares repurchase programs are usually a sign that the company’s board of directors believes its shares are undervalued.

NaaS Technology Stock Up 17.3 %

NASDAQ NAAS traded up $0.24 during trading hours on Friday, hitting $1.63. The company had a trading volume of 84,400,675 shares, compared to its average volume of 2,613,295. NaaS Technology has a fifty-two week low of $1.30 and a fifty-two week high of $34.20. The business has a fifty day simple moving average of $1.74 and a 200-day simple moving average of $2.86. The firm has a market cap of $26.99 million, a P/E ratio of -0.16 and a beta of 0.94.

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.