Nuvve Holding Corp. (NASDAQ:NVVE) Short Interest Down 57.6% in March

Nuvve Holding Corp. (NASDAQ:NVVE) was the target of a large drop in short interest during the month of March. As of March 31st, there was short interest totaling 79,713 shares, a drop of 57.6% from the March 15th total of 187,911 shares. Based on an average daily volume of 221,201 shares, the short-interest ratio is currently 0.4 days. Currently, 8.7% of the shares of the company are short sold.

Analyst Upgrades and Downgrades

NVVE has been the subject of several recent analyst reports. Wall Street Zen upgraded shares of Nuvve from a “sell” rating to a “hold” rating in a research note on Saturday. Weiss Ratings reiterated a “sell (e+)” rating on shares of Nuvve in a research note on Thursday, January 22nd. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Nuvve currently has a consensus rating of “Sell”.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the stock. Geode Capital Management LLC raised its holdings in Nuvve by 69.0% in the 4th quarter. Geode Capital Management LLC now owns 37,234 shares of the company’s stock valued at $95,000 after acquiring an additional 15,208 shares during the period. Citadel Advisors LLC bought a new position in shares of Nuvve during the third quarter worth approximately $29,000. Finally, PFG Investments LLC bought a new position in shares of Nuvve during the third quarter worth approximately $41,000. 19.01% of the stock is owned by institutional investors.

Nuvve Price Performance

Nuvve stock traded down $0.07 during trading hours on Monday, hitting $0.60. The company had a trading volume of 1,708,812 shares, compared to its average volume of 733,563. The firm has a market cap of $3.19 million, a PE ratio of 0.00 and a beta of 1.98. Nuvve has a one year low of $0.51 and a one year high of $142.00. The firm has a 50-day moving average of $0.97 and a 200 day moving average of $4.60.

Nuvve (NASDAQ:NVVE) last released its quarterly earnings results 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 company had revenue of $1.95 million during the quarter, compared to the consensus estimate of $1.90 million.

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.