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

Nuvve Holding Corp. (NASDAQ:NVVE) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 439,090 shares, an increase of 78.5% from the May 31st total of 246,015 shares. Based on an average daily volume of 265,419 shares, the short-interest ratio is presently 1.7 days. Currently, 7.2% of the company’s shares are sold short.

Nuvve Trading Down 9.5%

Shares of NASDAQ:NVVE opened at $0.36 on Thursday. Nuvve has a 12 month low of $0.23 and a 12 month high of $45.20. The company has a market capitalization of $2.21 million, a price-to-earnings ratio of -0.00 and a beta of 1.49. The firm’s 50-day moving average is $0.37 and its 200 day moving average is $1.29.

Nuvve’s stock is scheduled to reverse split on the morning of Monday, July 6th. The 1-18 reverse split was announced on Tuesday, June 30th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 2nd.

Nuvve (NASDAQ:NVVE) last announced its quarterly earnings data on Tuesday, March 31st. The company reported ($2.74) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1,920.00) by $1,917.26. The firm had revenue of $1.95 million during the quarter, compared to the consensus estimate of $1.90 million.

Analyst Ratings Changes

NVVE has been the subject of a number of recent research reports. Wall Street Zen upgraded Nuvve from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Nuvve currently has an average rating of “Sell”.

Institutional Investors Weigh In On Nuvve

A hedge fund recently bought a new position in Nuvve stock. Citadel Advisors LLC acquired a new stake in Nuvve Holding Corp. (NASDAQ:NVVE) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 121,849 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 0.60% of Nuvve as of its most recent SEC filing. 19.01% of the stock is currently owned by institutional investors.

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.