Latest news about naas

Here is the latest news about NaaS Technology Inc.:

1. Short Interest Update: As of July 31st, 2024, there was a significant decrease in short interest in NaaS Technology Inc. (NASDAQ: NAAS). The short interest totalling 450,100 shares, a decrease of 18.8% from the July 15th total of 554,500 shares. This indicates a reduction in bearish sentiment among investors.
2. Institutional Activity: There has been an institutional investor that recently bought a new position in NaaS Technology stock. EWA LLC purchased 18,248 shares of NaaS Technology Inc. (NASDAQ: NAAS) during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased shares valued at approximately $29,000. This indicates that institutions are showing interest in the stock.
3. Management Changes: NaaS Technology Inc. has appointed Steven Sim as the new Chief Financial Officer (CFO), effective August 12, 2024, following the resignation of Alex Wu for personal reasons. The company stated that Sim brings extensive experience in financial roles across Singapore, London, and China, which is expected to drive growth for the company.
4. Financial Performance: NaaS Technology reported its first positive average monthly profit in June 2024, marking a significant milestone in its history. The company's gross profit grew by 59% year-over-year, largely due to a significant increase in the gross margin for charging services. This indicates that the company's operational efficiency is improving.
5. Market Performance: NAAS stock opened at $4.25 on Friday, with a market cap of $54.74 million and a PE ratio of -0.25. The stock has a 50-day moving average price of $4.34 and its two-hundred day moving average price is $16.06. The stock has experienced a significant decline from its high of $146.60, but it has shown some signs of recovery with the recent positive earnings report.

In conclusion, NaaS Technology Inc. has recently seen a decrease in short interest, institutional investment, and positive changes in its financial leadership. These factors, combined with the company's improving financial performance, suggest that NAAS may be a promising investment at this time.