Polar Asset Management Partners Inc. Sells 1,109,412 Shares of Veea Inc. $VEEA

Polar Asset Management Partners Inc. decreased its holdings in shares of Veea Inc. (NASDAQ:VEEA) by 79.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 293,302 shares of the company’s stock after selling 1,109,412 shares during the quarter. Polar Asset Management Partners Inc. owned approximately 0.58% of Veea worth $183,000 as of its most recent SEC filing.

Veea Stock Up 1.6%

Shares of Veea stock opened at $0.64 on Friday. Veea Inc. has a 12-month low of $0.38 and a 12-month high of $2.60. The stock has a 50 day moving average price of $0.54 and a two-hundred day moving average price of $0.60. The stock has a market capitalization of $32.20 million, a P/E ratio of 64.20 and a beta of 0.23.

Analyst Upgrades and Downgrades

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

Veea 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.