Veea (NASDAQ:VEEA) Trading Up 1% – Here’s What Happened

Veea Inc. (NASDAQ:VEEA) shares shot up 1% during mid-day trading on Thursday . The company traded as high as $1.95 and last traded at $1.94. 12,531 shares were traded during trading, a decline of 91% from the average session volume of 134,313 shares. The stock had previously closed at $1.92.

Veea Trading Up 1.0%

The stock has a fifty day moving average of $1.90 and a 200-day moving average of $2.37.

Veea (NASDAQ:VEEA) last posted its quarterly earnings data on Tuesday, May 20th. The company reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $0.01 million for the quarter.

Hedge Funds Weigh In On Veea

An institutional investor recently bought a new position in Veea stock. Geode Capital Management LLC bought a new stake in shares of Veea Inc. (NASDAQ:VEEA) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 167,563 shares of the company’s stock, valued at approximately $638,000. Geode Capital Management LLC owned approximately 0.47% of Veea as of its most recent SEC filing. 25.88% of the stock is owned by institutional investors and hedge funds.

Veea Company Profile

Veea Inc provides computing, multiaccess multiprotocol communications, edge storage, and cybersecurity solutions. The company offers multiaccess edge computing (MEC) platform that redefines connectivity and computing at the edge by integrating functions of servers, network attached storage (NAS), routers, firewalls, Wi-Fi Access Points, IoT gateways, and 4G and 5G connections; and Veea Edge Platform enables direct connections from the optical fiber, cellular, and satellite networks.