NaaS Technology (NASDAQ:NAAS) Trading Down 5.1% – Here’s What Happened

NaaS Technology Inc. (NASDAQ:NAAS) fell 5.1% during trading on Wednesday . The company traded as low as $2.18 and last traded at $2.25. 151,038 shares were traded during trading, a decline of 81% from the average session volume of 783,921 shares. The stock had previously closed at $2.37.

NaaS Technology Stock Performance

The firm has a 50 day moving average price of $3.06 and a two-hundred day moving average price of $3.98. The company has a market cap of $27.31 million, a P/E ratio of -0.22 and a beta of 0.90.

Hedge Funds Weigh In On NaaS Technology

A hedge fund recently bought a new stake in NaaS Technology stock. LMR Partners LLP acquired a new position in NaaS Technology Inc. (NASDAQ:NAAS) in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 221,832 shares of the company’s stock, valued at approximately $885,000. LMR Partners LLP owned 1.72% of NaaS Technology at the end of the most recent quarter. 1.83% of the stock is owned by hedge funds and other institutional investors.

NaaS Technology Company Profile

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.