Veea Inc. (NASDAQ:VEEA) Short Interest Down 20.0% in March

Veea Inc. (NASDAQ:VEEA) was the target of a significant decline in short interest in March. As of March 31st, there was short interest totaling 366,957 shares, a decline of 20.0% from the March 15th total of 458,712 shares. Approximately 1.9% of the shares of the stock are short sold. Based on an average daily volume of 215,280 shares, the days-to-cover ratio is presently 1.7 days.

Analyst Ratings Changes

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a research note on Wednesday, January 21st. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has a consensus rating of “Sell”.

Veea Stock Up 4.6%

Veea stock opened at $0.71 on Friday. Veea has a 12-month low of $0.38 and a 12-month high of $2.60. The business’s 50-day moving average price is $0.55 and its two-hundred day moving average price is $0.60. The stock has a market cap of $35.71 million, a PE ratio of -4.45 and a beta of 0.18.

Veea (NASDAQ:VEEA) last released its earnings results on Tuesday, April 14th. The company reported ($0.12) earnings per share (EPS) for the quarter. The business had revenue of ($0.01) million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Veea stock. Jane Street Group LLC raised its holdings in Veea Inc. (NASDAQ:VEEA) by 359.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 51,186 shares of the company’s stock after acquiring an additional 40,051 shares during the period. Jane Street Group LLC owned about 0.10% of Veea worth $33,000 at the end of the most recent quarter. 25.88% of the stock is owned by hedge funds and other institutional investors.

Veea Company Profile

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.