Veea (NASDAQ:VEEA) Announces Earnings Results

Veea (NASDAQ:VEEA) released its quarterly earnings data on Tuesday. The company reported ($0.12) EPS for the quarter, Zacks reports. The business had revenue of ($0.01) million for the quarter.

Veea Price Performance

Shares of VEEA stock opened at $0.65 on Thursday. The company has a market capitalization of $32.50 million, a PE ratio of 64.80 and a beta of 0.18. The firm’s 50-day moving average is $0.55 and its two-hundred day moving average is $0.60. Veea has a 12 month low of $0.38 and a 12 month high of $2.60.

Analyst Upgrades and Downgrades

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

Institutional Trading of Veea

A hedge fund recently raised its stake in Veea stock. Geode Capital Management LLC increased its holdings in Veea Inc. (NASDAQ:VEEA) by 18.2% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 207,188 shares of the company’s stock after acquiring an additional 31,896 shares during the period. Geode Capital Management LLC owned approximately 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 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.