The stock of Veea Inc (NASDAQ: VEEA) has decreased by -11.70 when compared to last closing price of 2.82.Despite this, the company has seen a loss of -12.48% in its stock price over the last five trading days. businesswire.com reported 2024-11-20 that NEW YORK & PARIS–(BUSINESS WIRE)–DeepGreenX Group Inc. (“DeepGreenX” or “the Company”), an AI-enabled green energy and technology company, and Veea Inc. (NASDAQ: VEEA), a pioneer in edge computing and AI-driven solutions, announced a global partnership for a visionary initiative to roll-out a transformative platform for accelerating the transition to global green energy. The AI-driven operating system for energy markets is a Web 3.0 platform-as-a-service (PaaS) supported by Veea’s cybersecure.
Is It Worth Investing in Veea Inc (NASDAQ: VEEA) Right Now?
The 36-month beta value for VEEA is at 0.04.
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The public float for VEEA is 11.22M, and currently, shorts hold a 0.73% of that float. The average trading volume for VEEA on November 21, 2024 was 236.27K shares.
VEEA’s Market Performance
VEEA’s stock has seen a -12.48% decrease for the week, with a -43.15% drop in the past month and a -76.47% fall in the past quarter. The volatility ratio for the week is 8.81%, and the volatility levels for the past 30 days are at 11.86% for Veea Inc The simple moving average for the past 20 days is -21.04% for VEEA’s stock, with a -73.30% simple moving average for the past 200 days.
VEEA Trading at -49.87% from the 50-Day Moving Average
After a stumble in the market that brought VEEA to its low price for the period of the last 52 weeks, the company was unable to rebound, for now settling with -86.58% of loss for the given period.
Volatility was left at 11.86%, however, over the last 30 days, the volatility rate increased by 8.81%, as shares sank -45.35% for the moving average over the last 20 days. Over the last 50 days, in opposition, the stock is trading -77.13% lower at present.
During the last 5 trading sessions, VEEA fell by -13.18%, which changed the moving average for the period of 200-days by -77.36% in comparison to the 20-day moving average, which settled at $3.15. In addition, Veea Inc saw -77.05% in overturn over a single year, with a tendency to cut further losses.
Stock Fundamentals for VEEA
Equity return is now at value -11.87, with -9.69 for asset returns.
The liquidity ratio also appears to be rather interesting for investors as it stands at 0.03.
Conclusion
In conclusion, Veea Inc (VEEA) has had a bad performance lately. Opinion on the stock among analysts is mixed, with some giving it a “buy” rating and others a “hold”. It’s important to note that the stock is currently trading at a significant distance from its 50-day moving average and its 52-week high.
