Veea (NASDAQ:VEEA) Upgraded at Wall Street Zen
by Tristan Rich · The Markets DailyWall Street Zen upgraded shares of Veea (NASDAQ:VEEA – Free Report) to a hold rating in a report released on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a research report on Thursday. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company has an average rating of “Sell”.
Read Our Latest Stock Analysis on Veea
Veea Price Performance
Shares of NASDAQ VEEA opened at $4.06 on Friday. The company has a current ratio of 1.57, a quick ratio of 0.66 and a debt-to-equity ratio of 1.21. Veea has a 12-month low of $1.34 and a 12-month high of $16.44. The business’s fifty day simple moving average is $3.20 and its 200-day simple moving average is $6.47.
Veea (NASDAQ:VEEA – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($1.60) EPS for the quarter. The company had revenue of $0.18 million during the quarter.
Institutional Inflows and Outflows
An institutional investor recently raised its stake in Veea stock. Citadel Advisors LLC raised its position in Veea Inc. (NASDAQ:VEEA – Free Report) by 1,756.5% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 920,181 shares of the company’s stock after purchasing an additional 870,615 shares during the period. Citadel Advisors LLC owned 29.59% of Veea worth $217,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 25.88% of the company’s stock.
About Veea
Veea, Inc develops edge computing and communications solutions designed to process data closer to where it is generated. Its technology combines computing, storage, connectivity, and cybersecurity capabilities in compact, networked devices intended to support Internet of Things (IoT) and artificial intelligence applications.
The company’s product offerings include the VeeaHub family of smart edge devices and related software, including its edge platform and operating system. These solutions are designed to provide wired and wireless connectivity, local data processing, device management, and secure communications for applications such as smart buildings, retail, industrial operations, education, transportation, and telecommunications.
Veea serves enterprise, commercial, industrial, and communications customers through technology deployments and partnerships.