Veea Inc. (NASDAQ:VEEA) Short Interest Update

Veea Inc. (NASDAQ:VEEA) was the target of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 380,700 shares, an increase of 297.4% from the September 30th total of 95,800 shares. Based on an average trading volume of 545,800 shares, the short-interest ratio is currently 0.7 days. Currently, 2.7% of the shares of the company are short sold. Currently, 2.7% of the shares of the company are short sold. Based on an average trading volume of 545,800 shares, the short-interest ratio is currently 0.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Veea in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Veea has an average rating of “Sell”.

Veea Stock Down 7.2%

NASDAQ:VEEA opened at $0.64 on Friday. The stock’s 50-day simple moving average is $0.67 and its 200 day simple moving average is $1.34. The firm has a market capitalization of $32.03 million, a PE ratio of -4.26 and a beta of 0.23. Veea has a twelve month low of $0.51 and a twelve month high of $4.40.

Veea (NASDAQ:VEEA) last released its quarterly earnings data on Tuesday, August 19th. The company reported ($0.14) earnings per share for the quarter. The company had revenue of $0.07 million during the quarter.

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.