Veea Inc. (NASDAQ:VEEA) Short Interest Down 90.6% in July

Veea Inc. (NASDAQ:VEEA) saw a significant drop in short interest in July. As of July 15th, there was short interest totaling 96,560 shares, a drop of 90.6% from the June 30th total of 1,030,520 shares. Currently, 0.5% of the shares of the stock are short sold. Based on an average trading volume of 1,155,601 shares, the short-interest ratio is currently 0.1 days.

Analyst Ratings Changes

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

Veea Price Performance

NASDAQ:VEEA traded down $0.00 during trading hours on Friday, reaching $0.16. The stock had a trading volume of 233,577 shares, compared to its average volume of 3,525,249. The company has a debt-to-equity ratio of 0.92, a quick ratio of 0.50 and a current ratio of 1.14. Veea has a 52 week low of $0.15 and a 52 week high of $1.86. The company has a 50 day moving average price of $0.36 and a two-hundred day moving average price of $0.49. The stock has a market capitalization of $8.00 million, a PE ratio of -0.43 and a beta of 0.32.

Veea (NASDAQ:VEEA) last issued its quarterly earnings data on Friday, May 15th. The company reported ($0.09) earnings per share (EPS) for the quarter. The firm had revenue of $0.18 million during the quarter.

Institutional Investors Weigh In On Veea

An institutional investor recently raised its stake in Veea stock. Jane Street Group LLC raised its holdings 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 fund 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 as of its most recent filing with the Securities & Exchange Commission. 25.88% of the stock is owned by institutional investors.

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.