On Wednesday, the stock prices of Grupo Televisa S.A.B. (NYSE: TV), Western Alliance Bancorporation (NYSE: WAL), and MaxLinear Inc. (NASDAQ: MXL) surged 5.04%, 1.88%, and 4.95%, respectively. Institutional investors own a minority of NAAS’s outstanding shares, with a 0.30% stake in the company. Other institutions hold 0.28% of NAAS’s shares, while mutual funds own only 0.02%. Individuals hold the majority of NAAS’s shares, but the exact percentage is not provided. In the fiscal quarter reported on June 29, 2022, NAAS reported revenue of $10.60M and operating income of -$519.66M. Currently, one analyst is following NAAS’s stock, with an average target price of $14.50 over the next 12 months. EPS for NAAS is estimated to be between -$0.35 to -$0.35.
NaaS Technology Inc. (NAAS) Stocks Jumped by 38.76%
NaaS Technology Inc. (NASDAQ: NAAS) stocks experienced a significant increase of 38.76% on Friday, March 24, 2023. The stock closed at $5.80, up from the previous day’s closing price of $4.18. The trading volume reached 2.22 million shares, which is significantly higher than the average volume of 0.21 million shares.
NAAS operates in the Specialty Retail industry, which is a part of the Consumer Cyclical sector. During the trading session, the stock’s price fluctuated between $5.99 and $4.29. The 52-week range for NAAS shows that it reached its highest point of $22.45 and its lowest point of $2.75 during that time frame. The stock’s beta is currently 1.12.
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Price Performance and Earnings
The performance of NAAS stocks is a significant indicator for investors to determine their potential profit. Over the past week, NAAS stocks showed an upward trend, increasing by 40.78%. However, the rise was only 13.73% over a month. The three-month and six-month performances increased by 24.73% and 13.61%, respectively. Over the past year, the stock gained 34.10%, and so far this year, it has gained 49.10%. The expected annual growth rate for the company’s EPS over the next five years is 24.57%, although the company experienced an annual growth rate of 36.10% over the past five years.
Float and Shares Shorts
Currently, 214.16 million NAAS shares are outstanding, with a float of 49.40 million shares available for trading. On March 14, 2023, short shares totaled 74680.0, which is 0.03% higher than the short shares on February 14, 2023. The company’s CEO & Director is Ms. Wang Yang, and Mr. Alex Wu serves as its Pres, CFO & Director.
Institutional Ownership
Institutional Ownership of NAAS: An Overview
Institutional investors own a minority of NAAS’s outstanding shares, with a 0.30% stake in the company. Other institutions hold 0.28% of NAAS’s shares, while mutual funds own only 0.02%. Individuals hold the majority of NAAS’s shares, but the exact percentage is not provided. The largest shareholder in NAAS is Renaissance Technologies LLC, holding 0.14% of the stake with 66,567 shares valued at $66,567. The second-largest stockholder is Millennium Management LLC, holding 0.06% of the firm’s shares with 27,205 shares. Laidlaw Wealth Management LLC is the third-largest shareholder, holding 0.05% of the stake with 23,814 shares. The Fidelity Nasdaq Composite Index F is the largest mutual fund stakeholder with a 0.02% stake, owning 9,484 shares. The second-largest mutual fund holder is the Marshall Wace UCITS Funds Plc – M, owning 0.00% of NAAS’s stock.
An Overview of Recent Financials
NAAS’s revenue in the fiscal quarter reported on June 29, 2022, was $10.60M, with an operating income of -$519.66M. Over the past year, revenue was $32.58M, and operating income was -$740.24M. The company generated a net income of -$565.16M for the quarter and -$793.21M over the last twelve months. The EBITDA in the recently reported quarter was -$472.41M, and diluted EPS was -$2.60. EBITDA for the full year was -$694.18M.
Analysts Ratings
Currently, one analyst is following NAAS’s stock. Out of these analysts, none suggest SELL ratings, while 1 believes the stock is worth HOLDING. None of the analysts recommend OVERWEIGHT or UNDERWEIGHT ratings. The average target price assigned to the stock over the next 12 months is $14.50, with the highest target price being $14.50 and the lowest being $14.50. If NAAS reaches the high target price, the stock could surge by 150.0%. If it reaches the low target price, the stock could rise by 150.0%. Reaching the average price target would result in a growth of 150.0% from the current levels.
EPS: Estimates vs Actual
Using earnings estimates to evaluate a company’s growth potential and determine trading strategy is common practice. NAAS will report FY 2021 earnings on March 15, 2023. Analysts have provided yearly estimates in a range of -$0.35 to -$0.35, with an average estimate of -$0.35. For the next quarter, the high estimate is $0.06, the low estimate is $0.06, and the average estimate is $0.06.
Wednesday Stock Jumps
On Wednesday, Grupo Televisa S.A.B. (NYSE: TV) stock surged 5.04%, Western Alliance Bancorporation (NYSE: WAL) stock rose 1.88%, and MaxLinear Inc. (NASDAQ: MXL) stock increased by 4.95%.
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