Veea Inc. (NASDAQ:VEEA) Short Interest Update

by · The Markets Daily

Veea Inc. (NASDAQ:VEEA – Get Free Report) saw a large increase in short interest in June. As of June 15th, there was short interest totaling 408,321 shares, an increase of 106.6% from the May 31st total of 197,597 shares. Based on an average daily volume of 439,892 shares, the short-interest ratio is presently 0.9 days. Approximately 2.1% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Veea in a research note on Monday, April 20th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has an average rating of “Sell”.

Check Out Our Latest Stock Report on VEEA

Veea Stock Up 1.7%

Shares of NASDAQ VEEA traded up $0.00 during trading on Wednesday, hitting $0.24. 311,291 shares of the company traded hands, compared to its average volume of 1,325,664. The firm has a market capitalization of $12.04 million, a price-to-earnings ratio of -0.65 and a beta of 0.22. The business’s fifty day moving average is $0.49 and its 200 day moving average is $0.55. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.50 and a current ratio of 1.14. Veea has a fifty-two week low of $0.18 and a fifty-two week high of $1.89.

Veea (NASDAQ:VEEA – Get Free Report) last issued its earnings results on Friday, May 15th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $0.18 million during the quarter.

Institutional Investors Weigh In On Veea

An institutional investor recently raised its position in Veea stock. Geode Capital Management LLC increased its position in Veea Inc. (NASDAQ:VEEA – Free Report) by 18.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 207,188 shares of the company’s stock after purchasing an additional 31,896 shares during the period. Geode Capital Management LLC owned approximately 0.41% of Veea worth $132,000 at the end of the most recent quarter. Institutional investors and hedge funds own 25.88% of the company’s stock.

Veea Company Profile

(Get Free Report)

Veea (NASDAQ: VEEA) is a provider of edge computing and networking solutions designed to bring cloud-native services closer to end users and devices. The company’s integrated platform combines carrier-grade hardware, multi-access connectivity and software orchestration tools to support real-time Internet of Things (IoT) and artificial intelligence (AI) applications at the network edge.

The core offering, Veea Edge, consists of modular, ruggedized nodes that support private 5G, Citizens Broadband Radio Service (CBRS), LTE and Wi-Fi connectivity.

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