Nuvve Holding Corp. (NASDAQ:NVVE) Sees Significant Increase in Short Interest

Nuvve Holding Corp. (NASDAQ:NVVE) was the recipient of a significant increase in short interest during the month of June. As of June 15th, there was short interest totaling 439,090 shares, an increase of 78.5% from the May 31st total of 246,015 shares. Currently, 7.2% of the company’s shares are short sold. Based on an average daily volume of 265,419 shares, the short-interest ratio is currently 1.7 days.

Nuvve Stock Down 9.5%

NVVE opened at $0.36 on Thursday. The stock’s fifty day moving average is $0.37 and its two-hundred day moving average is $1.29. The company has a market capitalization of $2.21 million, a P/E ratio of -0.00 and a beta of 1.49. Nuvve has a 52 week low of $0.23 and a 52 week high of $45.20.

Shares of Nuvve are going to reverse split on 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 (NASDAQ:NVVE) last posted its quarterly earnings results on Tuesday, March 31st. The company reported ($2.74) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvve in a research note 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 investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Institutional Trading of Nuvve

An institutional investor recently bought a new position in Nuvve stock. Citadel Advisors LLC acquired a new position in Nuvve Holding Corp. (NASDAQ:NVVE) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 121,849 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned 0.60% of Nuvve at the end of the most recent reporting period. Institutional investors and hedge funds own 19.01% of the company’s stock.

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.