Veea (NASDAQ:VEEA) Stock Price Down 1.2% – Here’s What Happened

Veea Inc. (NASDAQ:VEEA) traded down 1.2% during trading on Tuesday . The company traded as low as $1.70 and last traded at $1.70. 11,413 shares traded hands during trading, a decline of 69% from the average session volume of 37,026 shares. The stock had previously closed at $1.72.

Veea Stock Performance

The firm’s fifty day simple moving average is $2.94.

Hedge Funds Weigh In On Veea

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

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.