Nuvve (NASDAQ:NVVE) Posts Earnings Results, Beats Expectations By $34,531.04 EPS

Nuvve (NASDAQ:NVVE) released its quarterly earnings results on Wednesday. The company reported ($28.96) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($34,560.00) by $34,531.04, FiscalAI reports. The firm had revenue of $1.39 million for the quarter, compared to analysts’ expectations of $1.90 million.

Nuvve Price Performance

Shares of NASDAQ:NVVE traded up $5.76 during trading on Wednesday, reaching $21.56. The company had a trading volume of 5,510,506 shares, compared to its average volume of 574,536. The stock’s fifty day moving average price is $6.94 and its 200 day moving average price is $19.51. Nuvve has a fifty-two week low of $3.79 and a fifty-two week high of $702.72. The firm has a market capitalization of $11.21 million, a price-to-earnings ratio of -0.00 and a beta of 1.49.

Institutional Trading of Nuvve

A hedge fund recently raised its stake in Nuvve stock. Geode Capital Management LLC lifted its position in shares of Nuvve Holding Corp. (NASDAQ:NVVE) by 69.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 37,234 shares of the company’s stock after acquiring an additional 15,208 shares during the quarter. Geode Capital Management LLC owned 3.34% of Nuvve worth $95,000 at the end of the most recent quarter. Institutional investors and hedge funds own 19.01% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of Nuvve in a research report on Tuesday, April 21st. Wall Street Zen upgraded shares of Nuvve from a “sell” rating to a “hold” rating in a research note on Saturday, April 11th. One research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

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.