NaaS Technology (NASDAQ:NAAS) Trading 2.9% Higher – Still a Buy?

NaaS Technology Inc. Sponsored ADR (NASDAQ:NAAS) traded up 2.9% on Friday . The stock traded as high as $3.48 and last traded at $3.23. Approximately 19,512 shares traded hands during trading, a decline of 23% from the average session volume of 25,296 shares. The stock had previously closed at $3.14.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of NaaS Technology in a report on Monday, July 20th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company has a consensus rating of “Sell”.

NaaS Technology Trading Up 2.9%

The stock has a 50-day simple moving average of $3.15 and a 200 day simple moving average of $2.75. The stock has a market capitalization of $34.11 million, a price-to-earnings ratio of -0.04 and a beta of 0.69.

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.