Nuvve (NASDAQ:NVVE) Cut to Sell at Wall Street Zen
by Mitch Edgeman · The Markets DailyWall Street Zen cut shares of Nuvve (NASDAQ:NVVE – Free Report) from a hold rating to a sell rating in a research note issued to investors on Saturday morning.
Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock currently has an average rating of “Sell”.
View Our Latest Analysis on NVVE
Nuvve Price Performance
Shares of NASDAQ:NVVE opened at $2.30 on Friday. Nuvve has a 1 year low of $2.12 and a 1 year high of $200.80. The company has a market cap of $1.93 million, a P/E ratio of 0.00 and a beta of 1.76. The stock’s fifty day moving average price is $6.62 and its 200-day moving average price is $15.95.
Nuvve (NASDAQ:NVVE – Get Free Report) last issued its earnings results on Thursday, November 13th. The company reported ($9.60) earnings per share for the quarter. The business had revenue of $1.60 million during the quarter.
Insider Buying and Selling at Nuvve
In other news, CEO Gregory Poilasne sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The shares were sold at an average price of $10.80, for a total value of $27,000.00. Following the transaction, the chief executive officer owned 38,911 shares in the company, valued at $420,238.80. This represents a 6.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In the last quarter, insiders have sold 8,150 shares of company stock valued at $73,680. 17.50% of the stock is owned by corporate insiders.
Institutional Trading of Nuvve
Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Heritage Investors Management Corp bought a new position in Nuvve in the second quarter worth approximately $95,000. PFG Investments LLC purchased a new stake in shares of Nuvve in the 3rd quarter worth $41,000. Finally, Citadel Advisors LLC purchased a new stake in shares of Nuvve in the 3rd quarter worth $29,000. 19.01% of the stock is owned by hedge funds and other institutional investors.
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.