Nuvve (NASDAQ:NVVE) Posts Earnings Results

Nuvve (NASDAQ:NVVE) released its quarterly earnings results on Wednesday. The company reported ($28.96) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($34,560.00) by $34,531.04, FiscalAI reports. The company had revenue of $1.39 million during the quarter, compared to analysts’ expectations of $1.90 million.

Nuvve Price Performance

Shares of NASDAQ NVVE traded up $5.76 during midday trading on Wednesday, hitting $21.56. The company’s stock had a trading volume of 5,549,230 shares, compared to its average volume of 574,536. The business’s fifty day simple moving average is $6.94 and its two-hundred day simple moving average is $19.51. Nuvve has a 1 year low of $3.79 and a 1 year high of $702.72. The firm has a market capitalization of $11.21 million, a price-to-earnings ratio of -0.00 and a beta of 1.49.

Nuvve News Summary

Here are the key news stories impacting Nuvve this week:

• Positive Sentiment: Nuvve’s recent 1-for-18 reverse stock split reduced the share count dramatically, which has likely helped fuel speculation and amplified volatility in the stock. Nuvve Announces 1-18 Reverse Stock Split
• Positive Sentiment: The company also disclosed progress on a battery storage deal in Romania through its Danish subsidiary, which may be adding some speculative buying interest. SEC filing on BESS Sibiu acquisition
• Neutral Sentiment: Trading in NVVE was repeatedly halted for LULD pauses, highlighting extremely high volatility and thin liquidity in the stock.
• Neutral Sentiment: While Nuvve reported quarterly earnings, the results were still deeply negative overall: EPS came in at $(28.96), and revenue of $1.39 million missed expectations. Nuvve earnings report
• Negative Sentiment: The company remains under Nasdaq compliance pressure due to past filing and minimum-bid-price issues, which keeps the stock risky and can limit investor confidence. SEC compliance filing

Analyst Ratings Changes

Several analysts recently weighed in on NVVE shares. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuvve in a report on Tuesday, April 21st. Wall Street Zen upgraded Nuvve from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat.com, the company 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 position in shares of Nuvve Holding Corp. (NASDAQ:NVVE) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 121,849 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned 0.60% of Nuvve at the end of the most recent quarter. 19.01% of the stock is owned by institutional investors and hedge funds.

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.