Nuvve Holding Corp. (NASDAQ:NVVE) Sees Large Decrease in Short Interest

Nuvve Holding Corp. (NASDAQ:NVVE) saw a significant decrease in short interest during the month of February. As of February 27th, there was short interest totaling 39,212 shares, a decrease of 51.6% from the February 12th total of 80,959 shares. Approximately 4.3% of the company’s stock are sold short. Based on an average daily volume of 138,605 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 138,605 shares, the short-interest ratio is currently 0.3 days. Approximately 4.3% of the company’s stock are sold short.

Analyst Upgrades and Downgrades

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

Nuvve Stock Down 7.8%

NVVE traded down $0.07 during trading on Friday, hitting $0.83. 138,122 shares of the company traded hands, compared to its average volume of 853,001. Nuvve has a one year low of $0.72 and a one year high of $142.00. The stock’s fifty day moving average is $1.88 and its 200 day moving average is $6.33. The firm has a market cap of $924,224.00, a P/E ratio of 0.00 and a beta of 1.85.

Institutional Investors Weigh In On Nuvve

A number of hedge funds have recently modified their holdings of the stock. Geode Capital Management LLC grew its holdings in Nuvve by 69.0% during the fourth quarter. Geode Capital Management LLC now owns 37,234 shares of the company’s stock valued at $95,000 after purchasing an additional 15,208 shares during the period. Citadel Advisors LLC bought a new stake in shares of Nuvve in the third quarter valued at $29,000. Finally, PFG Investments LLC bought a new stake in shares of Nuvve in the third quarter valued at $41,000. Institutional investors 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.