Veea Inc. (NASDAQ:VEEA) Short Interest Update

Veea Inc. (NASDAQ:VEEA) saw a large growth in short interest in July. As of July 31st, there was short interest totaling 314,506 shares, a growth of 225.7% from the July 15th total of 96,560 shares. Currently, 1.6% of the shares of the company are short sold. Based on an average trading volume of 726,227 shares, the days-to-cover ratio is presently 0.4 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a report on Friday, July 17th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Veea has a consensus rating of “Sell”.

Veea Stock Performance

VEEA traded up $0.00 during trading on Thursday, reaching $0.13. 548,948 shares of the company’s stock were exchanged, compared to its average volume of 1,379,904. Veea has a 1 year low of $0.11 and a 1 year high of $1.04. The stock has a market capitalization of $6.45 million, a P/E ratio of -0.34 and a beta of 0.35. The company’s fifty day simple moving average is $0.25 and its 200-day simple moving average is $0.45. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.50.

Veea (NASDAQ:VEEA) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($0.08) EPS for the quarter. The firm had revenue of $0.18 million for the quarter.

Institutional Investors Weigh In On Veea

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

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.