Veea Inc. (NASDAQ:VEEA) Short Interest Down 90.6% in July

Veea Inc. (NASDAQ:VEEA) saw a large decrease in short interest in July. As of July 15th, there was short interest totaling 96,560 shares, a decrease of 90.6% from the June 30th total of 1,030,520 shares. Currently, 0.5% of the shares of the company are short sold. Based on an average trading volume of 1,155,601 shares, the days-to-cover ratio is presently 0.1 days.

Veea Price Performance

VEEA stock traded down $0.00 during trading on Friday, reaching $0.16. The company’s stock had a trading volume of 233,577 shares, compared to its average volume of 3,525,249. 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 company’s fifty day moving average is $0.36 and its 200-day moving average is $0.49. The company has a market capitalization of $8.00 million, a P/E ratio of -0.43 and a beta of 0.32. Veea has a 1 year low of $0.15 and a 1 year high of $1.86.

Veea (NASDAQ:VEEA) last announced its quarterly earnings data on Friday, May 15th. The company reported ($0.09) EPS for the quarter. The firm had revenue of $0.18 million during the quarter.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a report on Friday, July 17th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company presently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Veea stock. Jane Street Group LLC raised its stake in shares of Veea Inc. (NASDAQ:VEEA) by 359.7% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission (SEC). 25.88% of the stock is owned by institutional investors and hedge funds.

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.