Nuvve (NASDAQ:NVVE) Raised to Hold at Wall Street Zen
by Teresa Graham · The Cerbat GemNuvve (NASDAQ:NVVE – Get Free Report) was upgraded by stock analysts at Wall Street Zen to a “hold” rating in a note issued to investors on Saturday.
Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvve in a research report on Wednesday, October 8th. One 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 Report on NVVE
Nuvve Stock Up 3.8%
Shares of NVVE stock opened at $3.81 on Friday. The company’s fifty day simple moving average is $7.99 and its 200-day simple moving average is $19.53. Nuvve has a 12 month low of $3.21 and a 12 month high of $200.80. The firm has a market cap of $3.20 million, a PE ratio of -0.01 and a beta of 1.75.
Nuvve (NASDAQ:NVVE – Get Free Report) last announced its quarterly earnings data on Thursday, November 13th. The company reported ($9.60) earnings per share for the quarter. The firm had revenue of $1.60 million during the quarter.
Insider Buying and Selling
In other Nuvve news, CEO Gregory Poilasne sold 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $10.80, for a total transaction of $27,000.00. Following the transaction, the chief executive officer owned 38,911 shares of the company’s stock, valued at $420,238.80. The trade was 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 through this hyperlink. Insiders sold a total of 8,150 shares of company stock worth $73,680 in the last three months. Company insiders own 17.50% of the company’s stock.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently made changes to their positions in the business. Heritage Investors Management Corp acquired a new position in shares of Nuvve during the 2nd quarter worth approximately $95,000. PFG Investments LLC acquired a new stake in Nuvve during the 3rd quarter valued at $41,000. Finally, Citadel Advisors LLC bought a new position in Nuvve during the third quarter worth $29,000. 19.01% of the stock is currently owned by institutional investors.
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.