Nuvve (NASDAQ:NVVE) Trading Down 1.4% – Here’s What Happened

Nuvve Holding Corp. (NASDAQ:NVVE)’s stock price dropped 1.4% during trading on Wednesday . The stock traded as low as $0.3410 and last traded at $0.3698. Approximately 111,756 shares were traded during trading, a decline of 65% from the average daily volume of 318,355 shares. The stock had previously closed at $0.3750.

Analyst Ratings Changes

NVVE has been the topic of several analyst reports. 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 report on Saturday, April 11th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

Nuvve Stock Performance

The firm has a fifty day simple moving average of $0.44 and a 200 day simple moving average of $2.05. The company has a market capitalization of $2.15 million, a PE ratio of 0.00 and a beta of 1.57.

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Nuvve stock. Geode Capital Management LLC boosted its holdings in shares of Nuvve Holding Corp. (NASDAQ:NVVE) by 69.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 37,234 shares of the company’s stock after acquiring an additional 15,208 shares during the period. Geode Capital Management LLC owned about 3.34% of Nuvve worth $95,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Institutional investors and hedge funds own 19.01% of the company’s stock.

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.