Veea (NASDAQ:VEEA – Get Free Report) announced its earnings results on Wednesday. The company reported ($1.16) earnings per share (EPS) for the quarter, FiscalAI reports. The firm had revenue of $0.07 million during the quarter.
Veea Price Performance
VEEA stock opened at $4.17 on Friday. The firm has a 50 day moving average price of $4.07 and a 200-day moving average price of $7.26. Veea has a 52-week low of $1.34 and a 52-week high of $16.44. The firm has a market capitalization of $12.95 million, a price-to-earnings ratio of -0.81 and a beta of 0.06. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.66 and a current ratio of 1.57.
Wall Street Analysts Forecast Growth
VEEA has been the topic of several recent research reports. Wall Street Zen raised Veea to a “hold” rating in a research note on Saturday, October 17th. Weiss Ratings reissued a “sell (e+)” rating on shares of Veea in a research report on Thursday, October 15th. One investment analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company presently has a consensus rating of “Sell”.
Institutional Trading of Veea
An institutional investor recently raised its stake in Veea stock. Citadel Advisors LLC raised its stake in Veea Inc. (NASDAQ:VEEA – Free Report) by 1,756.5% during the second 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 acquiring an additional 870,615 shares during the period. Citadel Advisors LLC owned approximately 29.59% of Veea worth $217,000 as of its most recent SEC filing. Institutional investors own 25.88% of the company’s stock.
About Veea
Veea, Inc. develops edge computing and connectivity solutions designed to process data closer to where it is generated. Its platform combines computing, networking, storage, cybersecurity and artificial intelligence capabilities to support connected devices and applications in locations such as commercial buildings, industrial sites and other distributed environments. The company’s product portfolio includes VeeaHubs, compact edge devices that provide local computing and wireless connectivity, as well as the Veea Edge Platform, which supports the deployment and management of software applications across distributed networks.
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