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.
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.
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The company’s stock has a 5-day price change of 35.43% and -7.69% over the past three months. NVVE shares are trading 10.84% year to date (YTD), with the 12-month market performance down to -88.50% lower. It has a 12-month low price of $2.78 and touched a high of $105.60 over the same period. NVVE has an average intraday trading volume of 138.49K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 23.38%, -3.41%, and -65.93% respectively.
Institutional ownership of Nuvve Holding Corp (NASDAQ: NVVE) 24.27M shares outstanding. Mutual fund holders own 11.54%, while other institutional holders and individual stakeholders account for 3.89% and 10.12% respectively.
It has a market capitalization of $6.90M and a beta (3y monthly) value of 1.78. 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 50.51% over the week and 21.70% over the month.
Analysts forecast that Nuvve Holding Corp (NVVE) will achieve an EPS of -$5.6 for the current quarter, -$4.4 for the next quarter and -$15.6 for 2024. The lowest estimate earnings-per-share for the quarter is -$5.6 while analysts give the company a high EPS estimate of -$5.6. Comparatively, EPS for the current quarter was -$0.33 a year ago.
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.
