NaaS Technology (NASDAQ:NAAS) Stock Price Down 1.7% – Here’s Why

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) dropped 1.7% during trading on Friday . The company traded as low as $3.32 and last traded at $3.40. Approximately 17,137 shares were traded during trading, a decline of 45% from the average daily volume of 31,229 shares. The stock had previously closed at $3.46.

Analyst Upgrades and Downgrades

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

NaaS Technology Stock Down 1.7%

The firm has a 50 day moving average of $2.96 and a 200 day moving average of $2.75. The firm has a market cap of $35.90 million, a PE ratio of -0.04 and a beta of 0.69.

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

About NaaS Technology

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.