Wall Street Zen upgraded shares of Veea (NASDAQ:VEEA – Free Report) to a hold rating in a report released on Saturday morning,Wall Street Zen reports.
Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of Veea in a research note on Thursday. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, Veea has a consensus rating of “Sell”.
Veea Stock Down 13.0%
VEEA opened at $4.21 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.57 and a debt-to-equity ratio of 1.21. The stock has a market cap of $13.09 million, a price-to-earnings ratio of -0.81 and a beta of 0.29. Veea has a twelve month low of $1.34 and a twelve month high of $16.44. The company’s 50-day moving average price is $3.18 and its two-hundred day moving average price is $6.54.
Veea (NASDAQ:VEEA – Get Free Report) last released its earnings results on Wednesday, August 12th. The company reported ($1.60) earnings per share for the quarter. The firm had revenue of $0.18 million for the quarter.
Hedge Funds Weigh In On Veea
A hedge fund recently raised its stake in Veea stock. Citadel Advisors LLC grew its holdings in Veea Inc. (NASDAQ:VEEA – Free Report) by 1,756.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 920,181 shares of the company’s stock after purchasing an additional 870,615 shares during the period. Citadel Advisors LLC owned approximately 29.59% of Veea worth $217,000 at the end of the most recent quarter. 25.88% of the stock is owned by hedge funds and other institutional investors.
Veea Company Profile
Veea, Inc develops edge computing and communications solutions designed to process data closer to where it is generated. Its technology combines computing, storage, connectivity, and cybersecurity capabilities in compact, networked devices intended to support Internet of Things (IoT) and artificial intelligence applications.
The company’s product offerings include the VeeaHub family of smart edge devices and related software, including its edge platform and operating system. These solutions are designed to provide wired and wireless connectivity, local data processing, device management, and secure communications for applications such as smart buildings, retail, industrial operations, education, transportation, and telecommunications.
Veea serves enterprise, commercial, industrial, and communications customers through technology deployments and partnerships.
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