Nuvve (NASDAQ:NVVE) Shares Down 9.7% – Here’s What Happened

Shares of Nuvve Holding Corp. (NASDAQ:NVVE) were down 9.7% during trading on Wednesday . The company traded as low as $2.64 and last traded at $2.99. Approximately 713,235 shares changed hands during trading, a decline of 9% from the average daily volume of 786,636 shares. The stock had previously closed at $3.31.

Nuvve Trading Down 9.7 %

The firm’s fifty day simple moving average is $3.15 and its two-hundred day simple moving average is $4.16. The company has a market capitalization of $2.60 million, a price-to-earnings ratio of -0.03 and a beta of 1.89.

Nuvve (NASDAQ:NVVE) last issued its quarterly earnings data on Tuesday, November 12th. The company reported ($2.47) earnings per share for the quarter. Nuvve had a negative return on equity of 1,604.08% and a negative net margin of 389.87%. The business had revenue of $1.92 million during the quarter.

Institutional Trading of Nuvve

A hedge fund recently bought a new stake in Nuvve stock. Partners Group Holding AG purchased a new position in shares of Nuvve Holding Corp. (NASDAQ:NVVE) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,316,290 shares of the company’s stock, valued at approximately $33,666,000. Nuvve accounts for about 2.3% of Partners Group Holding AG’s investment portfolio, making the stock its 21st largest holding. Partners Group Holding AG owned about 971.74% of Nuvve as of its most recent SEC filing. Institutional investors and hedge funds own 19.01% of the company’s stock.

About Nuvve

Nuvve Holding Corp., a green energy technology company, provides commercial vehicle-to-grid (V2G) technology platform in the United States, the United Kingdom, France, and Denmark. The company offers Grid Integrated Vehicle platform, which enables electric vehicle (EV) batteries to store and resell unused energy back to the local electric grid and provide other grid services, as well as allows EV owners to meet the energy demands of individual vehicles and entire fleets.