Veea (NASDAQ:VEEA – Get Free Report) announced its quarterly earnings data on Wednesday. The company reported ($0.08) earnings per share for the quarter, FiscalAI reports. The company had revenue of $0.18 million for the quarter.
Veea Price Performance
Veea stock traded up $0.00 during midday trading on Wednesday, reaching $0.13. 1,383,814 shares of the stock traded hands, compared to its average volume of 1,383,410. The stock has a market cap of $6.55 million, a P/E ratio of -0.35 and a beta of 0.35. The stock’s fifty day moving average is $0.25 and its 200-day moving average is $0.46. The company has a quick ratio of 0.50, a current ratio of 1.14 and a debt-to-equity ratio of 0.92. Veea has a 12 month low of $0.12 and a 12 month high of $1.04.
Analysts Set New Price Targets
Separately, Weiss Ratings reissued 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 MarketBeat.com, the stock presently has an average rating of “Sell”.
Institutional Trading of Veea
An institutional investor recently raised its position in Veea stock. Geode Capital Management LLC lifted its holdings in Veea Inc. (NASDAQ:VEEA – Free Report) by 18.2% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 207,188 shares of the company’s stock after purchasing 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. Institutional investors and hedge funds own 25.88% of the company’s stock.
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.
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