Veea (NASDAQ:VEEA) Stock Rating Upgraded by Wall Street Zen

Veea (NASDAQ:VEEA) was upgraded by research analysts at Wall Street Zen to a “hold” rating in a research report issued to clients and investors on Saturday, Wall Street Zen reports.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Veea in a report on Thursday. One analyst has rated the stock with a Sell rating. According to MarketBeat, the stock currently has an average rating of “Sell”.

Veea Price Performance

NASDAQ VEEA opened at $4.21 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.57 and a debt-to-equity ratio of 1.21. The company has a fifty day moving average of $3.18 and a two-hundred day moving average of $6.52. The firm has a market capitalization of $13.09 million, a price-to-earnings ratio of -0.81 and a beta of 0.29. Veea has a 52 week low of $1.34 and a 52 week high of $16.44.

Veea (NASDAQ:VEEA) last posted 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 for the quarter.

Institutional Trading of Veea

A hedge fund recently raised its stake in Veea stock. Citadel Advisors LLC raised its holdings in shares of Veea Inc. (NASDAQ:VEEA) by 1,756.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund 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 at the end of the most recent reporting period. 25.88% of the stock is owned by institutional investors.

Veea Company Profile

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.