Nuvve Holding Corp. (NASDAQ:NVVE – Get Free Report) was the target of a large growth in short interest in June. As of June 15th, there was short interest totaling 439,090 shares, a growth of 78.5% from the May 31st total of 246,015 shares. Based on an average daily trading volume, of 265,419 shares, the short-interest ratio is presently 1.7 days. Currently, 7.2% of the company’s stock are sold short.
Hedge Funds Weigh In On Nuvve
An institutional investor recently bought a new position in Nuvve stock. Citadel Advisors LLC acquired a new stake in shares of Nuvve Holding Corp. (NASDAQ:NVVE – Free Report) during the 3rd quarter, according to its most recent filing with the SEC. 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 at the end of the most recent quarter. 19.01% of the stock is currently owned by institutional investors and hedge funds.
Nuvve Stock Performance
Shares of Nuvve stock opened at $0.32 on Friday. Nuvve has a 52-week low of $0.23 and a 52-week high of $45.20. The stock’s 50-day simple moving average is $0.37 and its 200 day simple moving average is $1.27. The stock has a market capitalization of $1.97 million, a P/E ratio of -0.00 and a beta of 1.49.
Nuvve (NASDAQ:NVVE – Get Free Report) last announced its quarterly earnings results on Tuesday, March 31st. The company reported ($2.74) earnings per share for the quarter, beating the consensus estimate of ($1,920.00) by $1,917.26. The company had revenue of $1.95 million during the quarter, compared to analysts’ expectations of $1.90 million.
Analysts Set New Price Targets
A number of equities research analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a report on Tuesday, April 21st. Wall Street Zen raised Nuvve from a “sell” rating to a “hold” rating in a report on Saturday, April 11th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the stock has an average rating of “Sell”.
View Our Latest Research Report on Nuvve
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.
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