NaaS Technology Inc. (NASDAQ:NAAS) closed Monday at $5.44 per share, down from $5.72 a day earlier. While NaaS Technology Inc. has underperformed by -4.90%, investors are advised to look at stock chart patterns for technical insight. Within its last year performance, NAAS fell by -10.23%, with highs and lows ranging from $12.78 to $2.75, whereas the simple moving average fell by -6.32% in the last 200 days.
Analysis of NaaS Technology Inc. (NAAS)
Further, the quarter-over-quarter decrease in sales is -85.90%, showing a negative trend in the upcoming months.
As an indicator of volatility for any stock, average volume can also be very valuable, and NAAS is recording an average volume of 729.59K. On a monthly basis, the volatility of the stock is set at 7.64%, whereas on a weekly basis, it is put at 8.57%, with a gain of 5.43% over the past seven days.
How Do You Analyze NaaS Technology Inc. Shares?
Apart from looking at the fundamentals, you should also pay attention to the number of company employees who own shares. This is because the values should be in line with investors’ expectations. As opposed to executive stock, institutional ownership accounts for 0.30% of the company’s shares, contributing to an indication of company value, since large shareholders may signify strength within the organization.
Are institutional investors increasing their holdings in NAAS shares?
The recent increase in stakes in NAAS appears to be a result of several institutional investors and hedge funds increasing their positions. The company now owns 2,189,482 shares of the stock, with a value of $11.67 million, following the purchase of 2,189,482 additional shares during the last quarter. During the last quarter, the company picked up 63,136 additional shares for a total stake of worth $0.34 million, bringing number of shares owned by the company to 63,136.
During the first quarter, Laidlaw Wealth Management LLC added a 29,200 position in NAAS. Millennium Management LLC purchased an additional 2596.0 shares in the last quarter, increasing its holdings by 9.54%, now holding 29801.0 shares worth $0.16 million. NAAS shares are owned by institutional investors to the tune of 0.30% at present.