Nuvve Shares Scheduled to Reverse Split on Monday, July 6th (NASDAQ:NVVE)

Nuvve Holding Corp. (NASDAQ:NVVE)’s stock is going to reverse split on the morning of Monday, July 6th. The 1-18 reverse split was announced on Tuesday, June 30th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, July 2nd.

Nuvve Price Performance

Shares of NVVE opened at $0.36 on Thursday. The company has a 50-day simple moving average of $0.37 and a two-hundred day simple moving average of $1.29. The firm has a market capitalization of $2.21 million, a PE ratio of -0.00 and a beta of 1.49. Nuvve has a one year low of $0.23 and a one year high of $45.20.

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

Analyst Upgrades and Downgrades

NVVE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvve in a research note on Tuesday, April 21st. Wall Street Zen raised Nuvve from a “sell” rating to a “hold” rating in a research report on Saturday, April 11th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Nuvve currently has a consensus rating of “Sell”.

Institutional Investors Weigh In On Nuvve

An institutional investor recently bought a new stake in Nuvve stock. Citadel Advisors LLC purchased a new stake in shares of Nuvve Holding Corp. (NASDAQ:NVVE) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 121,849 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned approximately 0.60% of Nuvve as of its most recent SEC filing. 19.01% of the stock is currently owned by institutional investors and hedge funds.

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.