Short Interest in Veea Inc. (NASDAQ:VEEA) Rises By 106.6%

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

Veea Price Performance

NASDAQ VEEA opened at $0.24 on Thursday. The company has a 50 day simple moving average of $0.48 and a 200-day simple moving average of $0.54. The company has a debt-to-equity ratio of 0.92, a current ratio of 1.14 and a quick ratio of 0.50. The firm has a market capitalization of $12.04 million, a price-to-earnings ratio of -0.63 and a beta of 0.33. Veea has a 52-week low of $0.18 and a 52-week high of $1.89.

Veea (NASDAQ:VEEA) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.09) EPS for the quarter. The company had revenue of $0.18 million for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a research report on Monday, April 20th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has a consensus rating of “Sell”.

Institutional Trading of Veea

An institutional investor recently raised its position in Veea stock. Jane Street Group LLC raised its position in Veea Inc. (NASDAQ:VEEA) by 359.7% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 51,186 shares of the company’s stock after purchasing 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 quarter. Institutional investors and hedge funds own 25.88% of the company’s stock.

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.