Nuvve Holding Corp. (NASDAQ:NVVE) Short Interest Down 57.6% in March
by Doug Wharley · The Cerbat GemNuvve Holding Corp. (NASDAQ:NVVE – Get Free Report) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 79,713 shares, a drop of 57.6% from the March 15th total of 187,911 shares. Based on an average daily trading volume, of 221,201 shares, the short-interest ratio is currently 0.4 days. Currently, 8.7% of the company’s shares are short sold.
Institutional Trading of Nuvve
Several hedge funds have recently modified their holdings of the stock. PFG Investments LLC acquired a new stake in shares of Nuvve in the third quarter valued at $41,000. Citadel Advisors LLC acquired a new stake in shares of Nuvve in the third quarter valued at $29,000. Finally, Geode Capital Management LLC raised its stake in shares of Nuvve by 69.0% in the fourth quarter. Geode Capital Management LLC now owns 37,234 shares of the company’s stock valued at $95,000 after acquiring an additional 15,208 shares in the last quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.
Nuvve Price Performance
Shares of NASDAQ NVVE traded up $0.12 during mid-day trading on Friday, hitting $0.67. The company had a trading volume of 10,040,675 shares, compared to its average volume of 233,613. The company has a market capitalization of $752,080.00, a PE ratio of 0.00 and a beta of 1.98. Nuvve has a 1-year low of $0.51 and a 1-year high of $142.00. The business’s 50-day simple moving average is $0.99 and its 200 day simple moving average is $4.70.
Nuvve (NASDAQ:NVVE – Get Free Report) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($2.74) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1,920.00) by $1,917.26. The company had revenue of $1.95 million during the quarter, compared to analyst estimates of $1.90 million.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on NVVE shares. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a research report on Thursday, January 22nd. Wall Street Zen upgraded Nuvve from a “sell” rating to a “hold” rating in a research report on Saturday. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company currently has an average rating of “Sell”.
Read Our Latest Stock Analysis on NVVE
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.