Veea Inc. (NASDAQ:VEEAW) Shares Shorted: Short Interest Up 97.7% in October

Veea Inc. (NASDAQ:VEEAW) was the recipient of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 26,205 shares, an increase of 97.7% from the September 30th total of 13,255 shares. Based on an average trading volume of 35,458 shares, the short-interest ratio is currently 0.7 days.

Veea Stock Performance

VEEAW stock traded up $0.01 during trading on Monday, hitting $0.04. 26,148 shares of the stock traded hands, compared to its average volume of 18,332. The firm’s 50 day moving average is $0.04 and its two-hundred day moving average is $0.07. Veea has a 1 year low of $0.01 and a 1 year high of $0.11.

Institutional Investors Weigh In On Veea

An institutional investor recently bought a new position in Veea stock. Citadel Advisors LLC bought a new stake in shares of Veea Inc. (NASDAQ:VEEAW) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 920,181 shares of the company’s stock, valued at approximately $217,000.

Veea, Inc is a technology company that develops edge computing and connectivity solutions for enterprise, industrial, commercial and residential applications. Its platform is designed to process data closer to where it is generated, helping organizations support applications that require real-time performance, local intelligence and secure connectivity.

The company’s offerings include VeeaHub smart computing and communications devices, edge networking infrastructure, and software that can support Internet of Things applications, artificial intelligence, cybersecurity, private wireless networks and distributed data processing.