Nuvve Holding Corp. (NASDAQ:NVVE) Short Interest Update

Nuvve Holding Corp. (NASDAQ:NVVE) was the target of a large decline in short interest in the month of July. As of July 15th, there was short interest totaling 141,996 shares, a decline of 68.2% from the June 30th total of 446,370 shares. Based on an average trading volume of 6,527,059 shares, the days-to-cover ratio is currently 0.0 days. Currently, 27.5% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on NVVE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuvve in a research note on Friday, July 17th. Wall Street Zen upgraded shares of Nuvve from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Nuvve

A hedge fund recently raised its stake in Nuvve stock. Geode Capital Management LLC increased its position in Nuvve Holding Corp. (NASDAQ:NVVE) by 69.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 SEC filing. 19.01% of the stock is owned by institutional investors.

Nuvve Stock Performance

NVVE traded down $0.79 during trading on Monday, reaching $1.61. The company’s stock had a trading volume of 144,535 shares, compared to its average volume of 676,802. The company’s fifty day moving average price is $7.04 and its 200-day moving average price is $17.00. Nuvve has a 52-week low of $1.51 and a 52-week high of $561.60. The company has a market capitalization of $843,150.00, a price-to-earnings ratio of -0.00 and a beta of 1.49.

Nuvve (NASDAQ:NVVE) last released its quarterly earnings data on Wednesday, July 15th. The company reported ($28.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($34,560.00) by $34,531.04. The business had revenue of $1.39 million during the quarter, compared to analysts’ expectations of $1.90 million.

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.