Veea Inc. (NASDAQ:VEEA) Short Interest Up 38.9% in January

Veea Inc. (NASDAQ:VEEA) saw a significant growth in short interest in January. As of January 30th, there was short interest totaling 198,439 shares, a growth of 38.9% from the January 15th total of 142,820 shares. Based on an average trading volume of 172,004 shares, the days-to-cover ratio is presently 1.2 days. Approximately 1.0% of the company’s shares are short sold. Approximately 1.0% of the company’s shares are short sold. Based on an average trading volume of 172,004 shares, the days-to-cover ratio is presently 1.2 days.

Veea Stock Up 4.1%

VEEA traded up $0.02 during trading hours on Tuesday, hitting $0.48. 16,490 shares of the company’s stock were exchanged, compared to its average volume of 137,612. The stock has a market cap of $24.08 million, a price-to-earnings ratio of 48.00 and a beta of 0.21. Veea has a 1-year low of $0.39 and a 1-year high of $3.00. The stock’s 50-day moving average is $0.59 and its two-hundred day moving average is $0.65.

Veea (NASDAQ:VEEA) last posted its quarterly earnings data on Friday, November 14th. The company reported $0.03 EPS for the quarter. The business had revenue of $0.14 million for the quarter.

Institutional Investors Weigh In On Veea

An institutional investor recently raised its position in Veea stock. Jane Street Group LLC boosted its holdings in shares of Veea Inc. (NASDAQ:VEEA) by 359.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,186 shares of the company’s stock after buying an additional 40,051 shares during the quarter. Jane Street Group LLC owned approximately 0.10% of Veea worth $33,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 25.88% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Veea in a report on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

About Veea

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.