Nuvve (NASDAQ:NVVE) Rating Lowered to Sell at Wall Street Zen

Nuvve (NASDAQ:NVVE) was downgraded by Wall Street Zen from a “hold” rating to a “sell” rating in a research note issued to investors on Saturday.

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Nuvve in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Nuvve Stock Down 4.7%

Shares of Nuvve stock opened at $2.42 on Friday. The stock has a market cap of $2.03 million, a P/E ratio of -0.01 and a beta of 1.76. Nuvve has a 12-month low of $2.12 and a 12-month high of $200.80. The business’s 50 day moving average is $6.77 and its 200-day moving average is $16.64.

Nuvve (NASDAQ:NVVE) last announced its quarterly earnings results on Thursday, November 13th. The company reported ($9.60) earnings per share for the quarter. The business had revenue of $1.60 million during the quarter.

Insider Buying and Selling at Nuvve

In other news, CEO Gregory Poilasne sold 2,500 shares of the stock in a transaction on Wednesday, November 26th. The stock was sold at an average price of $10.80, for a total transaction of $27,000.00. Following the sale, the chief executive officer directly owned 38,911 shares of the company’s stock, valued at approximately $420,238.80. This represents a 6.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In the last ninety days, insiders sold 8,150 shares of company stock worth $73,680. Corporate insiders own 17.50% of the company’s stock.

Institutional Investors Weigh In On Nuvve

Institutional investors and hedge funds have recently bought and sold shares of the company. Citadel Advisors LLC bought a new position in Nuvve in the 3rd quarter valued at about $29,000. PFG Investments LLC acquired a new stake in shares of Nuvve during the 3rd quarter worth approximately $41,000. Finally, Heritage Investors Management Corp bought a new position in Nuvve in the second quarter valued at approximately $95,000. Institutional investors own 19.01% of the company’s stock.

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.