Veea (NASDAQ:VEEA) Stock Price Down 4.4% – Should You Sell?

Veea Inc. (NASDAQ:VEEA)’s share price traded down 4.4% during mid-day trading on Monday . The stock traded as low as $2.80 and last traded at $2.83. 19,064 shares were traded during trading, a decline of 34% from the average session volume of 28,779 shares. The stock had previously closed at $2.96.

Veea Stock Performance

The firm has a 50 day simple moving average of $3.42.

Institutional Trading of Veea

Institutional investors have recently modified their holdings of the stock. Polar Asset Management Partners Inc. acquired a new stake in Veea during the 3rd quarter worth approximately $11,106,000. Geode Capital Management LLC acquired a new position in shares of Veea in the fourth quarter worth $638,000. Northern Trust Corp acquired a new position in Veea in the 4th quarter valued at about $120,000. Finally, Virtu Financial LLC acquired a new position in shares of Veea in the third quarter valued at approximately $100,000. Hedge funds and other institutional investors own 25.88% of the company’s stock.

About Veea

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.