Nuvve (NASDAQ:NVVE) Trading Down 1.4% – What’s Next?

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

Wall Street Analysts Forecast Growth

NVVE has been the topic of a number of recent research reports. Wall Street Zen raised Nuvve from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuvve in a research report on Tuesday, April 21st. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Nuvve presently has an average rating of “Sell”.

Nuvve Stock Performance

The stock has a market cap of $2.28 million, a price-to-earnings ratio of 0.00 and a beta of 1.57. The company has a 50-day simple moving average of $0.44 and a two-hundred day simple moving average of $2.12.

Nuvve (NASDAQ:NVVE) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($2.74) earnings per share for the quarter, topping the consensus estimate of ($1,920.00) by $1,917.26. The company had revenue of $1.95 million for the quarter, compared to analyst estimates of $1.90 million.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Nuvve stock. Citadel Advisors LLC purchased a new position in shares of Nuvve Holding Corp. (NASDAQ:NVVE) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund purchased 121,849 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 0.60% of Nuvve as of its most recent SEC filing. Hedge funds and other institutional investors own 19.01% of the company’s stock.

Nuvve Company Profile

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.