Nuvve (NASDAQ:NVVE) Announces Quarterly Earnings Results, Beats Estimates By $1,913.62 EPS
by Sarita Garza · The Markets DailyNuvve (NASDAQ:NVVE – Get Free Report) issued its earnings results on Tuesday. The company reported ($6.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1,920.00) by $1,913.62, FiscalAI reports. The company had revenue of $1.95 million for the quarter, compared to the consensus estimate of $1.90 million.
Here are the key takeaways from Nuvve’s conference call:
- Management has pivoted to stationary batteries and announced a transformative partnership with OMNIA Global, giving Nuvve access to a >1 GW European pipeline and three announced projects totaling 150 MW that the company intends to own, which management says could produce substantial upside.
- A one-time inventory impairment of $3.47 million for nonconforming DC chargers drove Q4 net loss to $6.1 million, materially reduced inventories, and the company’s backlog fell to $3.3 million after the Fresno project termination.
- Nuvve formed Nuvve Japan, sold a 2 MW / 8 MWh battery for $3.35 million (with ~ $1 million down), was selected as aggregator for another 2 MW project, and says its Japan pipeline is similar in size to Europe over a longer 36–48 month timeline.
- Management highlighted meaningful cost reductions and margin improvement—Q4 cash operating expenses fell to $2.0 million and product/service margins improved—and is rolling out AI across forecasting, project management, sales and finance to scale the business and lower costs.
Nuvve Trading Down 0.7%
Shares of NVVE traded down $0.00 during trading hours on Tuesday, reaching $0.66. The stock had a trading volume of 558,903 shares, compared to its average volume of 878,682. The firm has a 50-day simple moving average of $1.26 and a 200 day simple moving average of $5.20. Nuvve has a 12 month low of $0.65 and a 12 month high of $142.00. The company has a market capitalization of $744,464.00, a price-to-earnings ratio of 0.00 and a beta of 1.85.
Institutional Inflows and Outflows
An institutional investor recently raised its position in Nuvve stock. Geode Capital Management LLC raised its holdings in Nuvve Holding Corp. (NASDAQ:NVVE – Free Report) by 69.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 37,234 shares of the company’s stock after buying an additional 15,208 shares during the period. Geode Capital Management LLC owned about 3.34% of Nuvve worth $95,000 as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 19.01% of the company’s stock.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on NVVE. Wall Street Zen lowered shares of Nuvve from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a research note on Thursday, January 22nd. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company presently has an average rating of “Sell”.
Check Out Our Latest Stock Report 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.