Wall Street Zen Upgrades Nuvve (NASDAQ:NVVE) to “Hold”
by Tristan Rich · The Markets DailyNuvve (NASDAQ:NVVE – Get Free Report) was upgraded by equities researchers at Wall Street Zen from a “sell” rating to a “hold” rating in a note issued to investors on Saturday.
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvve in a report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.
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Nuvve Stock Performance
NASDAQ NVVE opened at $0.67 on Friday. Nuvve has a one year low of $0.51 and a one year high of $142.00. The company has a 50-day simple moving average of $0.99 and a 200-day simple moving average of $4.66. The firm has a market capitalization of $3.57 million, a PE ratio of 0.00 and a beta of 1.98.
Nuvve (NASDAQ:NVVE – Get Free Report) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($2.74) EPS for the quarter, beating the consensus estimate of ($1,920.00) by $1,917.26. The business had revenue of $1.95 million during the quarter, compared to analyst estimates of $1.90 million.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC acquired a new position in Nuvve during the 3rd quarter valued at about $29,000. PFG Investments LLC acquired a new position in Nuvve during the 3rd quarter valued at about $41,000. Finally, Geode Capital Management LLC boosted its stake in Nuvve by 69.0% during the 4th quarter. Geode Capital Management LLC now owns 37,234 shares of the company’s stock valued at $95,000 after purchasing an additional 15,208 shares during the period. Institutional investors and hedge funds own 19.01% of the company’s stock.
About Nuvve
Nuvve Corporation is a clean energy technology company specializing in vehicle-to-grid (V2G) solutions that enable electric vehicles to serve as distributed energy resources. Through its proprietary Grid Integrated Vehicle (GIVe) software platform, Nuvve aggregates electric vehicle batteries into a virtual power plant to provide grid services such as frequency regulation, peak shaving and demand response. The company’s technology supports bidirectional charging hardware and integrates with public charging networks, fleet vehicles and stationary energy storage systems.
Founded in 2010 and headquartered in Newark, California, Nuvve began as the Nevada Electric Vehicle Accelerator before rebranding to reflect its expanded global mission.