Veea Inc. (NASDAQ:VEEA) Short Interest Up 38.9% in January

Veea Inc. (NASDAQ:VEEA) saw a large increase in short interest in the month of January. As of January 30th, there was short interest totaling 198,439 shares, an increase of 38.9% from the January 15th total of 142,820 shares. Based on an average trading volume of 172,004 shares, the short-interest ratio is presently 1.2 days. Currently, 1.0% of the shares of the company are short sold. Currently, 1.0% of the shares of the company are short sold. Based on an average trading volume of 172,004 shares, the short-interest ratio is presently 1.2 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Veea in a research note on Wednesday, January 21st. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has an average rating of “Sell”.

Veea Trading Down 4.0%

Shares of VEEA opened at $0.46 on Friday. The business’s 50 day moving average is $0.59 and its 200 day moving average is $0.66. Veea has a 12-month low of $0.39 and a 12-month high of $3.00. The company has a market capitalization of $23.13 million, a PE ratio of 46.11 and a beta of 0.21.

Veea (NASDAQ:VEEA) last released its quarterly earnings data 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.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Veea stock. Jane Street Group LLC boosted its stake in shares of Veea Inc. (NASDAQ:VEEA) by 359.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 51,186 shares of the company’s stock after acquiring an additional 40,051 shares during the quarter. Jane Street Group LLC owned about 0.10% of Veea worth $33,000 as of its most recent SEC filing. 25.88% of the stock is currently 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.