Veea Inc. (NASDAQ:VEEAW) Stock Short Interest Jumps 103.0%

Veea Inc. (NASDAQ:VEEAW) was the recipient of a significant increase in short interest in September. As of September 30th, there was short interest totaling 13,255 shares, an increase of 103.0% from the September 15th total of 6,531 shares. Based on an average daily trading volume, of 35,355 shares, the short-interest ratio is presently 0.4 days.

Veea Trading Down 0.5%

VEEAW opened at $0.04 on Friday. Veea has a 52-week low of $0.01 and a 52-week high of $0.11. The company has a 50 day moving average of $0.04 and a two-hundred day moving average of $0.06.

Hedge Funds Weigh In On Veea

An institutional investor recently bought a new position in Veea stock. Citadel Advisors LLC purchased a new stake in Veea Inc. (NASDAQ:VEEAW) in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor purchased 920,181 shares of the company’s stock, valued at approximately $217,000.

Veea, Inc develops edge computing, connectivity and Internet of Things (IoT) technologies designed to process data closer to where it is generated. Its platform combines computing, wireless connectivity, networking and cybersecurity capabilities to support applications that require low latency, local data processing and reliable communications.

The company’s products include VeeaHub smart edge devices and related software, which can be deployed across commercial, industrial, retail, transportation, smart-building and other environments.