NaaS Technology (NASDAQ:NAAS) Shares Scheduled to Reverse Split on Monday, June 10th

Shares of NaaS Technology Inc. (NASDAQ:NAAS) are scheduled to reverse split before the market opens on Monday, June 10th. The 1-20 reverse split was announced on Monday, June 10th. The number of shares owned by shareholders will be adjusted after the closing bell on Monday, June 10th.

NaaS Technology Price Performance

Shares of NASDAQ NAAS opened at $0.39 on Friday. The company has a market capitalization of $100.69 million, a PE ratio of -0.46 and a beta of 0.98. The company has a quick ratio of 1.12, a current ratio of 1.15 and a debt-to-equity ratio of 3.26. The stock’s 50 day moving average price is $0.78 and its 200-day moving average price is $1.32. NaaS Technology has a twelve month low of $0.30 and a twelve month high of $7.33.

NaaS Technology (NASDAQ:NAAS) last issued its quarterly earnings results on Thursday, May 9th. The company reported ($0.07) EPS for the quarter. NaaS Technology had a negative net margin of 376.49% and a negative return on equity of 885.88%. The business had revenue of $13.33 million for the quarter.

Hedge Funds Weigh In On NaaS Technology

A number of hedge funds and other institutional investors have recently made changes to their positions in NAAS. Bristlecone Advisors LLC purchased a new stake in NaaS Technology during the fourth quarter worth about $27,000. EWA LLC purchased a new position in NaaS Technology in the fourth quarter valued at about $29,000. Finally, Laidlaw Wealth Management LLC grew its position in shares of NaaS Technology by 242.8% during the 4th quarter. Laidlaw Wealth Management LLC now owns 193,414 shares of the company’s stock valued at $294,000 after acquiring an additional 137,000 shares during the period. 1.83% of the stock is owned by hedge funds and other institutional investors.

About NaaS Technology

NaaS Technology Inc provides electric vehicle (EV) charging services in China. The company offers online EV charging solutions, 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.