Veea Inc. (NASDAQ:VEEA) Sees Significant Increase in Short Interest

Veea Inc. (NASDAQ:VEEA) was the recipient of a large growth in short interest during the month of December. As of December 31st, there was short interest totaling 298,611 shares, a growth of 121.8% from the December 15th total of 134,659 shares. Based on an average daily trading volume, of 456,923 shares, the short-interest ratio is presently 0.7 days. Approximately 1.5% of the shares of the company are short sold. Approximately 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 456,923 shares, the short-interest ratio is presently 0.7 days.

Veea Stock Performance

Shares of VEEA stock opened at $0.54 on Wednesday. The firm has a market cap of $27.25 million, a price-to-earnings ratio of 54.32 and a beta of 0.21. Veea has a 52 week low of $0.39 and a 52 week high of $3.85. The firm’s 50-day simple moving average is $0.58 and its two-hundred day simple moving average is $0.84.

Veea (NASDAQ:VEEA) last issued its quarterly earnings results on Friday, November 14th. The company reported $0.03 earnings per share (EPS) for the quarter. The company had revenue of $0.14 million for the quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a research report on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has an average rating of “Sell”.

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.