Nuvve (NASDAQ:NVVE) Shares Set to Reverse Split on Monday, December 15th

Nuvve Holding Corp. (NASDAQ:NVVE) shares are scheduled to reverse split before the market opens on Monday, December 15th. The 1-40 reverse split was announced on Wednesday, December 10th. The number of shares owned by shareholders will be adjusted after the market closes on Friday, December 12th.

Nuvve Stock Performance

Shares of Nuvve stock traded down $0.06 on Thursday, reaching $0.11. The company had a trading volume of 16,084,879 shares, compared to its average volume of 14,005,095. The firm’s 50 day moving average price is $0.22 and its two-hundred day moving average price is $0.55. Nuvve has a 52-week low of $0.10 and a 52-week high of $5.02. The firm has a market cap of $3.62 million, a PE ratio of -0.01 and a beta of 1.75.

Nuvve (NASDAQ:NVVE) last announced its earnings results on Thursday, November 13th. The company reported ($0.24) EPS for the quarter. The company had revenue of $1.60 million during the quarter.

Analysts Set New Price Targets

NVVE has been the topic of several recent research reports. Wall Street Zen cut Nuvve from a “hold” rating to a “sell” rating in a research report on Saturday, August 16th. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuvve in a research note on Wednesday, October 8th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the stock presently has a consensus rating of “Sell”.

Insider Buying and Selling at Nuvve

In other news, CEO Gregory Poilasne sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 26th. The shares were sold at an average price of $0.27, for a total transaction of $27,000.00. Following the completion of the transaction, the chief executive officer owned 1,556,475 shares in the company, valued at approximately $420,248.25. This represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Over the last ninety days, insiders have sold 326,000 shares of company stock worth $73,680. 17.50% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the stock. PFG Investments LLC bought a new position in Nuvve in the 3rd quarter worth $41,000. Citadel Advisors LLC acquired a new stake in shares of Nuvve during the third quarter worth approximately $29,000. Finally, Heritage Investors Management Corp bought a new stake in shares of Nuvve during the second quarter worth $95,000. Institutional investors and hedge funds own 19.01% of the company’s stock.

Nuvve Company Profile

Nuvve Holding Corp., a green energy technology company, provides commercial vehicle-to-grid (V2G) technology platform in the United States, the United Kingdom, France, and Denmark. The company offers Grid Integrated Vehicle platform, which enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provide other grid services, as well as allows EV owners to meet the energy demands of individual vehicles and entire fleets.