Nuvve (NASDAQ:NVVE) Releases Quarterly Earnings Results, Beats Estimates By $1,913.62 EPS

Nuvve (NASDAQ:NVVE) posted its quarterly earnings results on Tuesday. The company reported ($6.38) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1,920.00) by $1,913.62, FiscalAI reports. The company had revenue of $1.95 million during the quarter, compared to analysts’ expectations of $1.90 million.

Here are the key takeaways from Nuvve’s conference call:

• Management has pivoted to stationary batteries and announced a transformative partnership with OMNIA Global, giving Nuvve access to a >1 GW European pipeline and three announced projects totaling 150 MW that the company intends to own, which management says could produce substantial upside.
• A one-time inventory impairment of $3.47 million for nonconforming DC chargers drove Q4 net loss to $6.1 million, materially reduced inventories, and the company’s backlog fell to $3.3 million after the Fresno project termination.
• Nuvve formed Nuvve Japan, sold a 2 MW / 8 MWh battery for $3.35 million (with ~ $1 million down), was selected as aggregator for another 2 MW project, and says its Japan pipeline is similar in size to Europe over a longer 36–48 month timeline.
• Management highlighted meaningful cost reductions and margin improvement—Q4 cash operating expenses fell to $2.0 million and product/service margins improved—and is rolling out AI across forecasting, project management, sales and finance to scale the business and lower costs.

Nuvve Stock Performance

Shares of NASDAQ:NVVE opened at $0.66 on Wednesday. The firm has a market cap of $744,464.00, a price-to-earnings ratio of 0.00 and a beta of 1.85. The business has a 50-day simple moving average of $1.26 and a two-hundred day simple moving average of $5.20. Nuvve has a fifty-two week low of $0.65 and a fifty-two week high of $142.00.

Institutional Trading of Nuvve

A hedge fund recently bought a new stake in Nuvve stock. Citadel Advisors LLC acquired a new stake in shares of Nuvve Holding Corp. (NASDAQ:NVVE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 121,849 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned 0.60% of Nuvve as of its most recent SEC filing. 19.01% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Nuvve from a “hold” rating to a “sell” rating in a report on Saturday, January 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nuvve has a consensus rating of “Sell”.

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.