Veea Inc. (NASDAQ:VEEA) Short Interest Update

Veea Inc. (NASDAQ:VEEA) saw a large growth in short interest in February. As of February 27th, there was short interest totaling 763,956 shares, a growth of 238.5% from the February 12th total of 225,715 shares. Based on an average daily trading volume, of 8,265,009 shares, the short-interest ratio is presently 0.1 days. Approximately 3.9% of the shares of the stock are sold short. Approximately 3.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 8,265,009 shares, the short-interest ratio is presently 0.1 days.

Wall Street Analysts Forecast Growth

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Veea stock. Geode Capital Management LLC boosted its holdings in shares of Veea Inc. (NASDAQ:VEEA) by 18.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 207,188 shares of the company’s stock after acquiring an additional 31,896 shares during the quarter. Geode Capital Management LLC owned 0.41% of Veea worth $132,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 25.88% of the company’s stock.

Veea Stock Down 4.8%

Shares of NASDAQ:VEEA opened at $0.51 on Wednesday. The company’s fifty day moving average is $0.54 and its two-hundred day moving average is $0.59. The company has a market cap of $25.34 million, a P/E ratio of 50.51 and a beta of 0.23. Veea has a 12-month low of $0.38 and a 12-month high of $2.60.

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.