Nuvve Holding Corp. (NASDAQ:NVVE) Short Interest Down 96.4% in December

Nuvve Holding Corp. (NASDAQ:NVVE) was the target of a large decrease in short interest in the month of December. As of December 15th, there was short interest totaling 156,732 shares, a decrease of 96.4% from the November 30th total of 4,315,966 shares. Currently, 22.6% of the company’s shares are sold short. Based on an average daily volume of 271,249 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily volume of 271,249 shares, the days-to-cover ratio is presently 0.6 days. Currently, 22.6% of the company’s shares are sold short.

Wall Street Analyst Weigh In

Several brokerages have weighed in on NVVE. Wall Street Zen upgraded Nuvve to a “hold” rating in a report on Saturday, December 20th. Weiss Ratings restated 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 data from MarketBeat.com, the company currently has an average rating of “Sell”.

Insider Transactions at Nuvve

In other Nuvve news, CEO Gregory Poilasne sold 2,500 shares of the company’s stock in a transaction 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 represents a 6.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 currently owned by insiders.

Institutional Trading of Nuvve

A number of large investors have recently made changes to their positions in the company. Citadel Advisors LLC acquired a new position in Nuvve during the third quarter worth approximately $29,000. PFG Investments LLC purchased a new position in shares of Nuvve during the third quarter worth approximately $41,000. Finally, Heritage Investors Management Corp acquired a new position in shares of Nuvve in the 2nd quarter valued at $95,000. 19.01% of the stock is owned by institutional investors and hedge funds.

Nuvve Price Performance

Shares of NASDAQ:NVVE traded up $0.11 during trading on Friday, hitting $3.14. 200,046 shares of the company were exchanged, compared to its average volume of 346,854. The firm’s 50 day moving average price is $7.51 and its 200-day moving average price is $18.67. Nuvve has a 12-month low of $2.75 and a 12-month high of $200.80. The stock has a market capitalization of $2.64 million, a P/E ratio of -0.01 and a beta of 1.75.

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

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.