Veea Inc. (NASDAQ:VEEA) Short Interest Down 20.0% in March

Veea Inc. (NASDAQ:VEEA) saw a significant decline in short interest in the month of March. As of March 31st, there was short interest totaling 366,957 shares, a decline of 20.0% from the March 15th total of 458,712 shares. Approximately 1.9% of the shares of the company are sold short. Based on an average trading volume of 215,280 shares, the days-to-cover ratio is currently 1.7 days.

Analysts Set New Price Targets

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

Veea Stock Performance

Shares of Veea stock opened at $0.69 on Thursday. The firm has a 50-day moving average of $0.55 and a 200-day moving average of $0.60. The stock has a market cap of $34.58 million, a PE ratio of 68.94 and a beta of 0.18. Veea has a 52-week low of $0.38 and a 52-week high of $2.60.

Institutional Investors Weigh In On Veea

An institutional investor recently raised its position in Veea stock. Jane Street Group LLC increased its position in shares of Veea Inc. (NASDAQ:VEEA) by 359.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 51,186 shares of the company’s stock after purchasing an additional 40,051 shares during the quarter. Jane Street Group LLC owned 0.10% of Veea worth $33,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 25.88% of the company’s stock.

Veea Company Profile

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.