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

Shares of NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) fell 2.5% during trading on Friday . The stock traded as low as $3.10 and last traded at $3.15. 16,488 shares were traded during mid-day trading, a decline of 16% from the average daily volume of 19,571 shares. The stock had previously closed at $3.23.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of NaaS Technology in a research note on Monday, July 20th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

NaaS Technology Trading Down 2.5%

The business has a 50 day simple moving average of $3.25 and a 200-day simple moving average of $2.79. The stock has a market capitalization of $53.74 million, a price-to-earnings ratio of -0.04 and a beta of 0.73.

NaaS Technology (NASDAQ:NAAS) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.12 EPS for the quarter. The business had revenue of $3.35 million during 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.