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NaaS Technology Inc. (NAAS) Rises From The Low: Could It Be A Catbird Seat?

NaaS Technology Inc. (NASDAQ:NAAS) concluded the trading at $5.33 on Wednesday, November 23 with a rise of 6.39% from its closing price on previous day.

Taking a look at stock we notice that its last check on previous day was $5.01 with its price kept floating in the range of $5.13 and $5.95 on the day. Company’s P/E ratio for the trailing 12 months is 0.05. Considering stock’s 52-week price range provides that NAAS hit a high price of $22.45 and saw its price falling to a low level of $2.08 during that period. Over a period of past 1-month, stock came adding 36.32% in its value.

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With its current market valuation of $1.20 billion, NaaS Technology Inc. is set to declare its quarterly results on Aug 22, 2022. Analysts are in estimates of $0 per share for company’s earnings in the current quarter and are expecting its annual EPS growth moving up to $0 for 2021 with estimates of that growing to $0 in next year.

They suggested that in the process company could generate revenue of as low as $68.41 million which could climb up to $68.41 million to hit a high.

In last 7 days, analysts came adjusting their opinions about stock’s EPS with no upward and no downward revisions, an indication which could give clearer idea about the company’s short term price movement. In contrast, when we review NAAS stock’s current outlook then short term indicators are assigning it an average of Hold, while medium term indicators are categorizing the stock at an average of 50% Sell. Long term indicators are suggesting an average of 25% Buy for it.

Digging deeper we become aware of the PEG ratio of the NAAS stock which is currently positioned at 0.00. It further provides that stock’s current price level is 7.49% away from its 20-day simple moving average and is 15.11% off its SMA50. Its relative strength index (RSI) for 14-periods is oscillating at 56.71 while volatility remained at 10.85% over the past week which changes to 7.95% when measuring it over the past month. Beta is valued at 0.82, while measure of average true range or ATR is currently at 0.41.

In comparing NaaS Technology Inc. (NAAS)’s stock with other industry players reveals that stock’s current price change of 6.39% and that of 92.77% over the past 12 months is in competing position with that of Graham Holdings Company (GHC) which saw its stock price fall by -0.50% in the last trading and went through an increase of 6.95% in past 12-month trading. NaaS Technology Inc. has a P/E ratio of 0.05 against that of Graham Holdings Company’s 21.68. On the other hand, the S&P 500 Index was up 0.59% in the last trading session while the Dow Jones Industrial closed the session higher at 0.28%.

Having a second look at NaaS Technology Inc. (NASDAQ:NAAS) provides that stock’s average daily trading volume for 3 months was 40.29K, while it jumped to 0.11 million when we calculate an average volume for past 10 days. Number of outstanding shares of the stock stood at 214.16 million.

The figures also indicate that as of Oct 13, 2022, number of stock’s short shares was 0.18 million which implies a short ratio of 9.13. This shows down a 0.08% of Short Interest in company’s outstanding shares on the day. In October the standing of shares short improved as it was 0.18 million in the previous month. Addition of 115.44% by stock’s current price to its year-to-date value in last trading session is likely to be increasing investors’ interest in the stock as it is hinting an extended uptrend.

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