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

Nuvve (NASDAQ:NVVE) released its earnings results on Wednesday. The company reported ($28.96) earnings per share 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 NVVE traded up $5.76 during mid-day trading on Wednesday, reaching $21.56. The company’s stock had a trading volume of 5,510,506 shares, compared to its average volume of 574,536. Nuvve has a 12-month low of $3.79 and a 12-month high of $702.72. The stock has a market cap of $11.21 million, a PE ratio of -0.00 and a beta of 1.49. The company’s 50 day moving average is $6.94 and its 200 day moving average is $19.51.

Hedge Funds Weigh In On Nuvve

An institutional investor recently bought a new stake in Nuvve stock. Citadel Advisors LLC bought a new stake in Nuvve Holding Corp. (NASDAQ:NVVE) during the third quarter, according to its most recent disclosure with the SEC. The firm bought 121,849 shares of the company’s stock, valued at approximately $29,000. Citadel Advisors LLC owned about 0.60% of Nuvve at the end of the most recent reporting period. 19.01% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

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

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.