Short Interest in Nuvve Holding Corp. (NASDAQ:NVVE) Drops By 96.4%
by Scott Moore · The Cerbat GemNuvve Holding Corp. (NASDAQ:NVVE – Get Free Report) was the recipient of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 156,732 shares, a drop of 96.4% from the November 30th total of 4,315,966 shares. Based on an average daily volume of 271,249 shares, the short-interest ratio is presently 0.6 days. Currently, 22.6% of the shares of the company are sold short. Currently, 22.6% of the shares of the company are sold short. Based on an average daily volume of 271,249 shares, the short-interest ratio is presently 0.6 days.
Insider Transactions at Nuvve
In other Nuvve news, CEO Gregory Poilasne sold 2,500 shares of the company’s stock in a transaction 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 sale, the chief executive officer directly owned 38,911 shares of the company’s stock, valued at approximately $420,238.80. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Insiders have sold 8,150 shares of company stock worth $73,680 in the last three months. Insiders own 17.50% of the company’s stock.
Institutional Investors Weigh In On Nuvve
Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PFG Investments LLC purchased a new position in Nuvve during the third quarter valued at $41,000. Citadel Advisors LLC purchased a new stake in shares of Nuvve during the third quarter worth about $29,000. Finally, Heritage Investors Management Corp acquired a new position in shares of Nuvve during the 2nd quarter worth about $95,000. Hedge funds and other institutional investors own 19.01% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on NVVE. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuvve in a report on Wednesday, October 8th. Wall Street Zen upgraded Nuvve 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, the stock currently has an average rating of “Sell”.
View Our Latest Stock Report on NVVE
Nuvve Stock Down 8.1%
Shares of NASDAQ:NVVE traded down $0.28 during trading on Wednesday, reaching $3.12. 104,818 shares of the company’s stock traded hands, compared to its average volume of 250,216. Nuvve has a fifty-two week low of $2.98 and a fifty-two week high of $200.80. The company has a 50-day simple moving average of $7.63 and a 200-day simple moving average of $18.78. The firm has a market cap of $2.62 million, a PE ratio of -0.01 and a beta of 1.75.
Nuvve (NASDAQ:NVVE – Get Free Report) last issued its quarterly 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.
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.