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

Nuvve Holding Corp. (NASDAQ:NVVEGet Free Report) saw a large drop in short interest in August. As of August 31st, there was short interest totalling 915,200 shares, a drop of 17.5% from the August 15th total of 1,110,000 shares. Based on an average trading volume of 920,500 shares, the days-to-cover ratio is presently 1.0 days. Currently, 20.9% of the company’s stock are short sold.

Analyst Ratings Changes

Separately, Chardan Capital reiterated a “buy” rating and issued a $2.50 price target on shares of Nuvve in a research note on Friday, August 11th.

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Institutional Trading of Nuvve

Several institutional investors have recently bought and sold shares of the company. UBS Group AG grew its position in Nuvve by 36.9% during the 1st quarter. UBS Group AG now owns 9,726 shares of the company’s stock valued at $77,000 after purchasing an additional 2,622 shares during the last quarter. LPL Financial LLC boosted its holdings in shares of Nuvve by 33.8% during the 2nd quarter. LPL Financial LLC now owns 15,851 shares of the company’s stock valued at $74,000 after acquiring an additional 4,000 shares during the last quarter. State Street Corp boosted its holdings in shares of Nuvve by 2.9% during the 1st quarter. State Street Corp now owns 219,136 shares of the company’s stock valued at $1,729,000 after acquiring an additional 6,213 shares during the last quarter. Vident Investment Advisory LLC boosted its holdings in shares of Nuvve by 27.2% during the 1st quarter. Vident Investment Advisory LLC now owns 33,827 shares of the company’s stock valued at $267,000 after acquiring an additional 7,240 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Nuvve by 59.0% in the first quarter. Invesco Ltd. now owns 23,096 shares of the company’s stock worth $182,000 after buying an additional 8,574 shares during the last quarter. 19.01% of the stock is owned by hedge funds and other institutional investors.

Nuvve Price Performance

Shares of Nuvve stock opened at $0.45 on Friday. The company has a 50-day moving average of $0.55 and a 200 day moving average of $0.58. The firm has a market cap of $14.49 million, a price-to-earnings ratio of -0.34 and a beta of 1.82. Nuvve has a 1 year low of $0.37 and a 1 year high of $2.64.

Nuvve (NASDAQ:NVVEGet Free Report) last issued its quarterly earnings results on Thursday, August 10th. The company reported ($0.30) earnings per share (EPS) for the quarter. The business had revenue of $2.12 million during the quarter. Nuvve had a negative return on equity of 152.40% and a negative net margin of 561.21%.

About Nuvve

(Get Free Report)

Nuvve Holding Corp., a green energy technology company, develops and commercializes vehicle-to-grid (V2G) technology in the United States, the United Kingdom, and Denmark. The company offers fleet and electric bus charging solutions, and V1G and V2G charging stations based on Grid Integrated Vehicle, a V2G technology platform that enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provide other grid services.

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