Nuvve Holding Corp. (NASDAQ:NVVE) Sees Significant Decrease in Short Interest

Nuvve Holding Corp. (NASDAQ:NVVE) was the recipient of a significant decline in short interest in February. As of February 13th, there was short interest totaling 80,959 shares, a decline of 69.8% from the January 29th total of 268,185 shares. Based on an average daily volume of 325,114 shares, the short-interest ratio is presently 0.2 days. Currently, 8.8% of the shares of the stock are sold short. Currently, 8.8% of the shares of the stock are sold short. Based on an average daily volume of 325,114 shares, the short-interest ratio is presently 0.2 days.

Nuvve Price Performance

Shares of NASDAQ NVVE traded down $0.13 during mid-day trading on Friday, hitting $1.05. The company had a trading volume of 132,827 shares, compared to its average volume of 245,893. The business’s 50-day simple moving average is $2.27 and its 200-day simple moving average is $7.72. The firm has a market cap of $1.18 million, a P/E ratio of 0.00 and a beta of 1.81. Nuvve has a 12 month low of $1.00 and a 12 month high of $200.80.

Institutional Trading of Nuvve

Hedge funds have recently modified their holdings of the company. Heritage Investors Management Corp acquired a new position in Nuvve during the 2nd quarter worth $95,000. PFG Investments LLC bought a new stake in shares of Nuvve during the third quarter worth $41,000. Citadel Advisors LLC acquired a new position in shares of Nuvve during the third quarter valued at $29,000. Finally, Geode Capital Management LLC boosted its holdings in Nuvve by 69.0% in the fourth quarter. Geode Capital Management LLC now owns 37,234 shares of the company’s stock valued at $95,000 after acquiring an additional 15,208 shares during the last quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on NVVE shares. Wall Street Zen downgraded shares of Nuvve from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Weiss Ratings reaffirmed 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, According to data from MarketBeat, the stock has an average rating of “Sell”.

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.