Veea Inc. (NASDAQ:VEEA) Short Interest Up 225.7% in July

Veea Inc. (NASDAQ:VEEA) was the recipient of a large growth in short interest in the month of July. As of July 31st, there was short interest totaling 314,506 shares, a growth of 225.7% from the July 15th total of 96,560 shares. Based on an average trading volume of 726,227 shares, the short-interest ratio is presently 0.4 days. Approximately 1.6% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

An institutional investor recently raised its stake in Veea stock. Jane Street Group LLC grew its stake in shares of Veea Inc. (NASDAQ:VEEA) by 359.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 51,186 shares of the company’s stock after buying an additional 40,051 shares during the period. Jane Street Group LLC owned 0.10% of Veea worth $33,000 at the end of the most recent reporting period. 25.88% of the stock is owned by institutional investors and hedge funds.

Veea Trading Up 4.8%

NASDAQ:VEEA opened at $0.13 on Friday. Veea has a 1 year low of $0.11 and a 1 year high of $0.93. The stock’s fifty day moving average price is $0.23 and its two-hundred day moving average price is $0.45. The company has a debt-to-equity ratio of 1.21, a current ratio of 1.57 and a quick ratio of 0.50. The company has a market cap of $6.75 million, a P/E ratio of -0.52 and a beta of 0.35.

Veea (NASDAQ:VEEA) last announced its quarterly earnings results on Wednesday, August 12th. The company reported ($0.08) earnings per share for the quarter. The firm had revenue of $0.18 million during the quarter.

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.