Naas Technology Inc ADR [NAAS] Revenue clocked in at $39.94 million, down -28.29% YTD: What’s Next?

Naas Technology Inc ADR [NASDAQ: NAAS] plunged by -$0.4 during the normal trading session on while it closed the day at $1.09. The company report on March 13, 2024 at 8:35 AM that NaaS Technology Inc. Announces US$6 Million Registered Direct Offering.

NaaS Technology Inc. (Nasdaq: NAAS) (“NaaS” or the “Company”), the first U.S. listed EV charging service company in China, today announced that it has entered into a definitive agreement with a single, U.S. institutional investor for the purchase and sale of 4,761,905 American Depositary Shares (“ADS”) together with warrants to purchase up to 4,761,905 ADSs at a combined purchase price of US$1.26 per ADS and accompanying warrant (together the “Securities”), pursuant to a registered direct offering for total gross proceeds of approximately US$6 million, before deducting commissions and other estimated offering expenses. The warrants will have an exercise price of US$1.49, will be exercisable beginning six months following the date of issuance and will expire five years from the initial exercise date. The closing of the offering and sale of the Securities is expected to occur on or about March 15, 2024, subject to the satisfaction of customary closing conditions.

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This offering is being made pursuant to an effective shelf registration statement on Form F-3 (File No 333-273515) previously filed with the U.S. Securities and Exchange Commission (the “SEC”). A prospectus supplement describing the terms of the proposed offering will be filed with the SEC and will be available on the SEC’s website located at http://www.sec.gov.

Naas Technology Inc ADR stock has also loss -16.79% of its value over the past 7 days. However, NAAS stock has declined by -46.83% in the 3 months of the year. Over the past six months meanwhile, it has lost -81.37% and lost -28.29% year-on date.

The market cap for NAAS stock reached $91.34 million, with 83.80 million shares outstanding and 83.00 million shares in the current float. Compared to the average trading volume of 1.22M shares, NAAS reached a trading volume of 6311672 in the most recent trading day, which is why market watchdogs consider the stock to be active.

Here’s what leading stock market gurus have to say about Naas Technology Inc ADR [NAAS]:

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NAAS shares is $4.50 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NAAS stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Jefferies have made an estimate for Naas Technology Inc ADR shares, keeping their opinion on the stock as Buy, with their previous recommendation back on October 31, 2023.

The Average True Range (ATR) for Naas Technology Inc ADR is set at 0.16, with the Price to Sales ratio for NAAS stock in the period of the last 12 months amounting to 2.29. The Price to Book ratio for the last quarter was 10.74, with the Price to Cash per share for the same quarter was set at 0.65.

NAAS stock trade performance evaluation

Naas Technology Inc ADR [NAAS] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -16.79. With this latest performance, NAAS shares dropped by -35.12% in over the last four-week period, additionally sinking by -81.37% over the last 6 months – not to mention a drop of -76.20% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NAAS stock in for the last two-week period is set at 33.43, with the RSI for the last a single of trading hit 28.40, and the three-weeks RSI is set at 36.57 for Naas Technology Inc ADR [NAAS]. The present Moving Average for the last 50 days of trading for this stock 1.5012, while it was recorded at 1.3500 for the last single week of trading, and 3.7312 for the last 200 days.

Naas Technology Inc ADR [NAAS]: An insightful look at the core fundamentals

Naas Technology Inc ADR’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.48 and a Current Ratio set at 1.50.

Earnings per share (EPS) analysis for Naas Technology Inc ADR [NAAS] stock

The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NAAS. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for Naas Technology Inc ADR go to 24.57%.

Naas Technology Inc ADR [NAAS]: Institutional Ownership

The top three institutional holders of NAAS stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NAAS stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NAAS stock with ownership which is approximately 5.8325%.