NaaS Technology (NASDAQ:NAAS) Stock Price Down 2.5% – Here’s Why

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS)’s share price was down 2.5% during mid-day trading on Thursday . The stock traded as low as $3.01 and last traded at $3.10. 2,899 shares traded hands during mid-day trading, a decline of 47% from the average daily volume of 5,496 shares. The stock had previously closed at $3.18.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NaaS Technology in a research report on Wednesday, April 22nd. One analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company currently has an average rating of “Sell”.

NaaS Technology Stock Performance

The company has a market cap of $32.74 million, a PE ratio of -0.04 and a beta of 0.68. The business’s 50-day simple moving average is $2.70 and its 200-day simple moving average is $2.80.

NaaS Technology (NASDAQ:NAAS) last posted its quarterly earnings results on Thursday, April 16th. The company reported ($10.10) EPS for the quarter. The firm had revenue of $4.29 million for the quarter.

NaaS Technology Company Profile

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.