Veea Inc. (NASDAQ:VEEA) Short Interest Down 52.2% in January

Veea Inc. (NASDAQ:VEEA) was the recipient of a significant drop in short interest in January. As of January 15th, there was short interest totaling 142,820 shares, a drop of 52.2% from the December 31st total of 298,611 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 179,357 shares, the short-interest ratio is currently 0.8 days. Based on an average daily trading volume, of 179,357 shares, the short-interest ratio is currently 0.8 days. Currently, 0.7% of the shares of the stock are sold short.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Veea in a research note on Wednesday, January 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Veea Stock Down 6.0%

Shares of VEEA opened at $0.63 on Thursday. Veea has a 52-week low of $0.39 and a 52-week high of $3.43. The stock has a fifty day simple moving average of $0.58 and a two-hundred day simple moving average of $0.76. The company has a market capitalization of $31.61 million, a PE ratio of 63.01 and a beta of 0.21.

Veea (NASDAQ:VEEA) last announced its quarterly earnings data on Friday, November 14th. The company reported $0.03 earnings per share (EPS) for the quarter. The firm had revenue of $0.14 million during the quarter.

About Veea

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.