Short Interest in Nuvve Holding Corp. (NASDAQ:NVVE) Declines By 96.4%

Nuvve Holding Corp. (NASDAQ:NVVE) was the target of a significant drop in short interest during the month of December. As of December 15th, there was short interest totaling 156,732 shares, a drop of 96.4% from the November 30th total of 4,315,966 shares. Based on an average trading volume of 271,249 shares, the short-interest ratio is currently 0.6 days. Approximately 22.6% of the shares of the stock are short sold. Approximately 22.6% of the shares of the stock are short sold. Based on an average trading volume of 271,249 shares, the short-interest ratio is currently 0.6 days.

Nuvve Stock Performance

Shares of NVVE stock traded down $0.28 on Thursday, reaching $3.12. The stock had a trading volume of 104,818 shares, compared to its average volume of 250,216. Nuvve has a 1 year low of $2.98 and a 1 year high of $200.80. The stock has a market cap of $2.61 million, a P/E ratio of -0.01 and a beta of 1.75. The company has a 50 day simple moving average of $7.63 and a 200 day simple moving average of $18.78.

Nuvve (NASDAQ:NVVE) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($9.60) earnings per share for the quarter. The firm had revenue of $1.60 million for the quarter.

Analyst Upgrades and Downgrades

NVVE has been the topic of several research reports. Wall Street Zen raised Nuvve to a “hold” rating in a research note on Saturday, December 20th. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuvve in a research note on Wednesday, October 8th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Insider Buying and Selling

In related news, CEO Gregory Poilasne sold 2,500 shares of the firm’s 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 transaction, the chief executive officer directly owned 38,911 shares in the company, valued at $420,238.80. This trade represents a 6.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In the last 90 days, insiders have sold 8,150 shares of company stock valued at $73,680. 17.50% of the stock is owned by company insiders.

Institutional Investors Weigh In On Nuvve

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