Geode Capital Management LLC recently announced the acquisition of new stake in Nuvve Holding Corp (NASDAQ:NVVE). The institutional investor has increased its shareholding in the Consumer Cyclical company by 40.33% to 0.2 million shares with purchase of 56110.0 shares. This fresh investment now brings its stake to 0.43% valued currently at $24208.0. In addition, Connectus Wealth LLC raised its holdings by 0.13 million to 0.13 million shares. And NEIRG Wealth Management LLC has lifted its position by 21.49% or 18000.0 shares – to 0.1 million shares.
With over 64.19 million Nuvve Holding Corp (NVVE) shares trading Friday and a closing price of $0.12 on the day, the dollar volume was approximately $7.7 million. The shares have shown a negative half year performance of -79.75% and its price on 01/12/24 gained nearly 25.13%. Currently, there are 49.90M common shares owned by the public and among those 40.00M shares have been available to trade.
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Insiders at the company have transacted a total of 35 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 34 of these insider trades were purchases, accounting for 3,152,459 shares. Insider sales of the common stock occurred on 1 occasions, with total insider shares sold totaling 26,900 shares.
The top 3 mutual fund holders in Nuvve Holding Corp are GS Fds. SICAV – Glb. Environmenta, Goldman Sachs Global Environmenta, and Vanguard Total Stock Market ETF. GS Fds. SICAV – Glb. Environmenta owns 0.7 million shares of the company’s stock, all valued at over $87237.0. The company sold 36961.0 shares recently to bring their total holdings to about 1.57% of the shares outstanding. Goldman Sachs Global Environmenta sold 6849.0 shares to see its total holdings shrink to 0.66 million shares valued at over $81422.0 and representing 1.46% of the shares outstanding. Vanguard Total Stock Market ETF now owns shares totaling to 0.52% of the shares outstanding.
Shares of Nuvve Holding Corp (NASDAQ: NVVE) opened at $0.124, up $0.02 from a prior closing price of $0.10. However, the script later moved the day high at 0.1445, up 25.13%. The company’s stock has a 5-day price change of 14.51% and -65.58% over the past three months. NVVE shares are trading -2.41% year to date (YTD), with the 12-month market performance down to -85.32% lower. It has a 12-month low price of $0.10 and touched a high of $2.64 over the same period. NVVE has an average intraday trading volume of 4.10 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -5.59%, -20.96%, and -71.12% respectively.
Institutional ownership of Nuvve Holding Corp (NASDAQ: NVVE) shares accounts for 12.70% of the company’s 49.90M shares outstanding. Mutual fund holders own 4.41%, while other institutional holders and individual stakeholders account for 9.68% and 11.54% respectively.
It has a market capitalization of $6.06M and a beta (3y monthly) value of 1.81. The earnings-per-share (ttm) stands at -$1.21. Price movements for the stock have been influenced by the stock’s volatility, which stands at 15.85% over the week and 11.08% over the month.
Analysts forecast that Nuvve Holding Corp (NVVE) will achieve an EPS of -$0.14 for the current quarter, -$0.11 for the next quarter and $0 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.14 while analysts give the company a high EPS estimate of -$0.14. Comparatively, EPS for the current quarter was -$0.33 a year ago.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 1 brokerage firm advisors rate Nuvve Holding Corp (NVVE) as a “Strong Buy” at a consensus score of 1.00. Specifically, 1 Wall Street analysts polled rate the stock as a buy, while 0 of the 1 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the NVVE, a number of firms have released research notes about the stock. Chardan Capital Markets stated their Buy rating for the stock in a research note on December 21, 2021, with the firm’s price target at $24.
