Nuvve Holding Corp. (NASDAQ:NVVE) Short Interest Update
by Amy Steele · The Cerbat GemNuvve Holding Corp. (NASDAQ:NVVE – Get Free Report) was the target of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 275,598 shares, an increase of 92.9% from the December 31st total of 142,847 shares. Currently, 29.9% of the shares of the stock are sold short. Based on an average trading volume of 11,761,091 shares, the short-interest ratio is presently 0.0 days. Based on an average trading volume of 11,761,091 shares, the short-interest ratio is presently 0.0 days. Currently, 29.9% of the shares of the stock are sold short.
Analyst Upgrades and Downgrades
Several research analysts have recently commented on the stock. Wall Street Zen lowered 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 report on Thursday, January 22nd. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Nuvve has a consensus rating of “Sell”.
Read Our Latest Analysis on Nuvve
Nuvve Trading Down 10.7%
NASDAQ:NVVE traded down $0.19 during trading hours on Friday, hitting $1.58. The stock had a trading volume of 424,744 shares, compared to its average volume of 7,113,811. Nuvve has a 1-year low of $1.52 and a 1-year high of $200.80. The company has a market cap of $1.76 million, a PE ratio of 0.00 and a beta of 1.76. The business has a 50 day simple moving average of $4.47 and a two-hundred day simple moving average of $11.47.
Nuvve (NASDAQ:NVVE – Get Free Report) last announced its earnings results on Thursday, November 13th. The company reported ($9.60) earnings per share (EPS) for the quarter. The business had revenue of $1.60 million during the quarter.
Insider Transactions at Nuvve
In other news, CEO Gregory Poilasne sold 2,500 shares of the stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $10.80, for a total value of $27,000.00. Following the completion of the sale, the chief executive officer directly owned 38,911 shares in the company, valued at $420,238.80. This represents a 6.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Over the last 90 days, insiders have sold 8,150 shares of company stock valued at $73,680. 17.50% of the stock is currently owned by company insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the company. Heritage Investors Management Corp purchased a new stake in shares of Nuvve in the second quarter worth approximately $95,000. PFG Investments LLC acquired a new stake in shares of Nuvve in the 3rd quarter valued at $41,000. Finally, Citadel Advisors LLC acquired a new position in shares of Nuvve during the 3rd quarter valued at about $29,000. Institutional investors own 19.01% of the company’s stock.
Nuvve Company Profile
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.