Veea Inc. (NASDAQ:VEEA) Shares Shorted: Short Interest Down 95.8% in September

by · The Markets Daily

Veea Inc. (NASDAQ:VEEA – Get Free Report) saw a significant decrease in short interest in the month of September. As of September 30th, there was short interest totaling 50,744 shares, a decrease of 95.8% from the September 15th total of 1,216,996 shares. Based on an average daily trading volume, of 3,301,243 shares, the short-interest ratio is presently 0.0 days. Approximately 4.2% of the company’s stock are short sold.

Veea Stock Up 47.3%

Shares of VEEA stock traded up $1.83 on Friday, hitting $5.70. The stock had a trading volume of 83,281,788 shares, compared to its average volume of 21,297,608. The firm has a market capitalization of $17.73 million, a price-to-earnings ratio of -1.10 and a beta of 0.29. The stock’s 50 day moving average is $3.03 and its 200-day moving average is $6.74. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.66 and a current ratio of 1.57. Veea has a 52-week low of $1.34 and a 52-week high of $18.67.

Veea (NASDAQ:VEEA – Get Free Report) last issued its quarterly earnings data on Wednesday, August 12th. The company reported ($1.60) earnings per share for the quarter. The business had revenue of $0.18 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Veea in a research note on Friday, July 17th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, Veea currently has an average rating of “Sell”.

Get Our Latest Report on VEEA

Institutional Trading of Veea

A hedge fund recently raised its stake in Veea stock. Citadel Advisors LLC lifted its stake in Veea Inc. (NASDAQ:VEEA – Free Report) by 1,756.5% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 920,181 shares of the company’s stock after purchasing an additional 870,615 shares during the quarter. Citadel Advisors LLC owned 29.59% of Veea worth $217,000 as of its most recent filing with the Securities & Exchange Commission. 25.88% of the stock is currently owned by institutional investors.

About Veea

(Get Free Report)

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.

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