Nuvve Holding Corp. (NASDAQ:NVVE) Short Interest Up 92.9% in January

Nuvve Holding Corp. (NASDAQ:NVVE) was the recipient of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 275,598 shares, a growth of 92.9% from the December 31st total of 142,847 shares. Currently, 29.9% of the shares of the company are sold short. Based on an average trading volume of 11,761,091 shares, the days-to-cover ratio is currently 0.0 days. Based on an average trading volume of 11,761,091 shares, the days-to-cover ratio is currently 0.0 days. Currently, 29.9% of the shares of the company are sold short.

Nuvve Stock Down 10.7%

Shares of Nuvve stock traded down $0.19 during trading hours on Friday, hitting $1.58. The company’s stock had a trading volume of 424,744 shares, compared to its average volume of 7,113,811. The stock has a 50 day moving average of $4.64 and a 200 day moving average of $11.72. Nuvve has a 12 month low of $1.52 and a 12 month high of $200.80.

Nuvve (NASDAQ:NVVE) last released its earnings results on Thursday, November 13th. The company reported ($9.60) EPS for the quarter. The business had revenue of $1.60 million during the quarter.

Analysts Set New Price Targets

NVVE has been the subject of a number of analyst reports. Wall Street Zen cut shares of Nuvve from a “hold” rating to a “sell” rating in a research note on Saturday, January 3rd. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company has an average rating of “Sell”.

Insider Activity at Nuvve

In related news, CEO Gregory Poilasne sold 2,500 shares of the stock in a transaction that occurred on Wednesday, November 26th. The stock was sold at an average price of $10.80, for a total transaction of $27,000.00. Following the completion of the sale, the chief executive officer owned 38,911 shares in the company, valued at $420,238.80. This represents a 6.04% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders sold 8,150 shares of company stock valued at $73,680 in the last 90 days. Insiders own 17.50% of the company’s stock.

Hedge Funds Weigh In On Nuvve

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Citadel Advisors LLC bought a new stake in Nuvve in the 3rd quarter valued at $29,000. PFG Investments LLC bought a new stake in shares of Nuvve during the 3rd quarter worth approximately $41,000. Finally, Heritage Investors Management Corp bought a new stake in Nuvve during the second quarter worth $95,000. 19.01% of the stock is 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.