NaaS Technology (NASDAQ:NAAS) Trading Up 7.9% – Still a Buy?

Shares of NaaS Technology Inc. (NASDAQ:NAAS) rose 7.9% on Monday . The company traded as high as $3.20 and last traded at $3.14. Approximately 183,598 shares were traded during trading, a decline of 78% from the average daily volume of 826,027 shares. The stock had previously closed at $2.91.

NaaS Technology Trading Up 7.9 %

The firm has a market cap of $40.44 million, a PE ratio of -0.22 and a beta of 0.90. The stock’s 50 day moving average price is $3.32 and its 200 day moving average price is $5.28.

Hedge Funds Weigh In On NaaS Technology

An institutional investor recently bought a new position in NaaS Technology stock. LMR Partners LLP bought a new stake in shares of NaaS Technology Inc. (NASDAQ:NAAS) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 221,832 shares of the company’s stock, valued at approximately $885,000. LMR Partners LLP owned 1.72% of NaaS Technology as of its most recent SEC filing. Institutional investors and hedge funds own 1.83% of the company’s stock.

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.