Veea Inc. (NASDAQ:VEEA) Short Interest Update

Veea Inc. (NASDAQ:VEEA) was the target of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 408,321 shares, a growth of 106.6% from the May 31st total of 197,597 shares. Approximately 2.1% of the company’s stock are sold short. Based on an average daily trading volume, of 439,892 shares, the days-to-cover ratio is presently 0.9 days.

Veea Stock Performance

NASDAQ:VEEA traded down $0.04 during midday trading on Tuesday, reaching $0.22. The stock had a trading volume of 6,132,266 shares, compared to its average volume of 1,320,961. Veea has a 12-month low of $0.18 and a 12-month high of $1.89. The company has a quick ratio of 0.50, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. The firm has a fifty day simple moving average of $0.50 and a two-hundred day simple moving average of $0.55. The stock has a market cap of $10.93 million, a P/E ratio of -0.59 and a beta of 0.22.

Veea (NASDAQ:VEEA) last posted its quarterly earnings results on Friday, May 15th. The company reported ($0.09) earnings per share (EPS) for the quarter. The company had revenue of $0.18 million for the quarter.

Institutional Trading of Veea

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

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a research report on Monday, April 20th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, 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.