Naas Technology Inc ADR (NASDAQ: NAAS): Stock Forecast For 2024 Sees A A Decline Of -85.84%


In today’s recent session, 1.14 million shares of the Naas Technology Inc ADR (NASDAQ:NAAS) have been traded, and its beta is 1.11. Most recently the company’s share price was $1.10, and it changed around -$0.14 or -11.29% from the last close, which brings the market valuation of the company to $92.18M. NAAS at last check was trading at a discount to its 52-week high of $12.78, offering almost -1061.82% off that amount. The share price’s 52-week low was $1.07, which indicates that the recent value has risen by an impressive 2.73% since then. We note from Naas Technology Inc ADR’s average daily trading volume that its 10-day average is 1.15 million shares, with the 3-month average coming to 1.25 million.

Naas Technology Inc ADR (NASDAQ:NAAS) trade information

Instantly NAAS has been showing red trend so far today with a performance of -11.29% on intraday trading today. The performance over the last five days has remained in the red territory. The company’s shares are currently down -27.63% year-to-date, but still down -10.57% over the last five days. On the other hand, Naas Technology Inc ADR (NASDAQ:NAAS) is -26.67% down in the 30-day period. We can see from the shorts that 1.87 million shares have been sold at a short interest cover period of 1.29 day(s).

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Naas Technology Inc ADR (NASDAQ:NAAS)’s Major holders

Upon looking at major shareholders, it appears that insiders hold 0.00% of Naas Technology Inc ADR shares, and 12.99% of them are in the hands of institutional investors. The stock currently has a share float of 12.99%. Naas Technology Inc ADR stock is held by 28 institutions, with Invesco Ltd. being the largest institutional investor. By Jun 29, 2023, it held 2.66% of the shares, which is about 1.46 million shares worth $7.79 million.

Millennium Management Llc, with 0.14% or 74651.0 shares worth $0.4 million as of Jun 29, 2023, holds the second largest percentage of outstanding shares.

Invesco ETF Tr-Invesco Wilderhill Clean Energy ETF and Fidelity NASDAQ Composite Index Fund were the top two Mutual Funds as of Aug 30, 2023. The former held 1.37 million shares worth $9.16 million, making up 2.49% of all outstanding shares. On the other hand, Fidelity NASDAQ Composite Index Fund held roughly 9484.0 shares worth around $67620.0, which represents about 0.02% of the total shares outstanding.