Short Interest in Nuvve Holding Corp. (NASDAQ:NVVE) Declines By 68.2%

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

Nuvve Trading Down 17.8%

Shares of NASDAQ NVVE traded down $0.29 during midday trading on Tuesday, hitting $1.32. The company’s stock had a trading volume of 50,631 shares, compared to its average volume of 672,267. The business’s 50 day moving average is $7.04 and its two-hundred day moving average is $17.00. Nuvve has a 12-month low of $1.25 and a 12-month high of $525.60. The firm has a market cap of $693,000.00, a P/E ratio of -0.00 and a beta of 1.49.

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

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in Nuvve stock. Citadel Advisors LLC purchased a new stake in Nuvve Holding Corp. (NASDAQ:NVVE) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 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 filing with the Securities & Exchange Commission. 19.01% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages have issued reports on NVVE. Wall Street Zen upgraded Nuvve from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a report on Friday, July 17th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock has a consensus rating of “Sell”.

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.