Nuvve (NASDAQ:NVVE) Posts Earnings Results, Beats Expectations By $316.64 EPS

Nuvve (NASDAQ:NVVE) posted its quarterly earnings results on Wednesday. The company reported ($28.96) earnings per share (EPS) for the quarter, topping the consensus estimate of ($345.60) by $316.64, FiscalAI reports. The firm had revenue of $1.39 million for the quarter, compared to analyst estimates of $1.90 million.

Nuvve Price Performance

Shares of NASDAQ NVVE opened at $21.56 on Thursday. The company has a 50 day simple moving average of $7.24 and a 200 day simple moving average of $19.27. Nuvve has a 1 year low of $3.79 and a 1 year high of $702.72. The firm has a market cap of $11.32 million, a PE ratio of -0.00 and a beta of 1.49.

More Nuvve News

Here are the key news stories impacting Nuvve this week:

• Positive Sentiment: Nuvve completed a 1-for-18 reverse stock split, sharply reducing its share count and helping trigger outsized price swings in the thinly traded stock. Nuvve announces 1-18 reverse stock split
• Positive Sentiment: The company disclosed a potential growth opportunity through its Danish subsidiary’s planned acquisition of BESS Sibiu SRL, which is developing a 42 MW battery storage project in Romania. SEC filing regarding BESS Sibiu acquisition
• Neutral Sentiment: Multiple LULD trading halts were reported, underscoring the stock’s extreme volatility and low-float trading conditions.
• Neutral Sentiment: Recent earnings were mixed: Nuvve reported a smaller-than-expected loss per share, but revenue missed estimates, so the release was not a clear fundamental breakthrough.
• Negative Sentiment: The company still faces Nasdaq compliance issues tied to a late Form 10-Q and earlier minimum bid-price problems, which could keep pressure on sentiment. SEC compliance filing

Hedge Funds Weigh In On Nuvve

A hedge fund recently raised its position in Nuvve stock. Geode Capital Management LLC raised its stake in shares of Nuvve Holding Corp. (NASDAQ:NVVE) by 69.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 37,234 shares of the company’s stock after purchasing an additional 15,208 shares during the period. Geode Capital Management LLC owned 3.34% of Nuvve worth $95,000 at the end of the most recent quarter. Institutional investors own 19.01% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently commented on NVVE. Weiss Ratings reissued a “sell (e+)” rating on shares of Nuvve in a report on Tuesday, April 21st. Wall Street Zen raised 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, the stock has a consensus 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.