Nuvve Holding Corp [NASDAQ: NVVE] closed the trading session at $3.34. The company report on January 30, 2024 at 9:30 AM that Taipower Awards e-Formula and Nuvve with Taiwan’s First Electric Vehicle V2G Hub Project for 95 EVs.
Nuvve Holding Corp. (Nasdaq: NVVE), a global technology leader accelerating the electrification of transportation through its proprietary vehicle-to-grid (V2G) platform, in collaboration with e-Formula, a prominent Taiwanese energy solutions provider, is pleased to announce the potential to launch the first V2G hub project in Taiwan.
e-Formula, known for its expertise in microgrid management and battery technologies, would serve as the project lead for this 95 EV V2G Hub project, and Nuvve is expected to be the technical project manager and service provider. Nuvve currently anticipates completion of contract negotiation for this project in March, with underlying business assumptions allowing for Nuvve to deploy a mix of unidirectional and bidirectional charging stations ranging from 11kW to 150kW. Nuvve will contract with Taipower to be compensated for grid services through the combination of EVSEs provided by Nuvve and stationary storage provided by e-Formula. By combining Nuvve’s world-class V2G technology with e-Formula’s extensive experience in energy solutions, this project would set a new standard for sustainable urban transit.
The stocks have a year to date performance of -32.93 percent and weekly performance of -39.49 percent. The stock has been moved at -86.93 percent over the last six months. The stock has performed -35.77 percent around the most recent 30 days and changed -61.16 percent over the most recent 3-months.
If compared to the average trading volume of 350.20K shares, NVVE reached to a volume of 5583619 in the most recent trading day, which is why market watchdogs consider the stock to be active.
Here’s what leading stock market gurus have to say about Nuvve Holding Corp [NVVE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for NVVE shares is $100.00 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on NVVE stock is a recommendation set at 1.00. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Chardan Capital Markets have made an estimate for Nuvve Holding Corp shares, keeping their opinion on the stock as Buy, with their previous recommendation back on December 21, 2021.
The Average True Range (ATR) for Nuvve Holding Corp is set at 1.15, with the Price to Sales ratio for NVVE stock in the period of the last 12 months amounting to 0.56. The Price to Book ratio for the last quarter was 9.65, with the Price to Cash per share for the same quarter was set at 11.03.
NVVE stock trade performance evaluation
Nuvve Holding Corp [NVVE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -39.49. With this latest performance, NVVE shares dropped by -35.77% in over the last four-week period, additionally sinking by -86.93% over the last 6 months – not to mention a drop of -95.61% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for NVVE stock in for the last two-week period is set at 40.85, with the RSI for the last a single of trading hit 40.68, and the three-weeks RSI is set at 40.50 for Nuvve Holding Corp [NVVE]. The present Moving Average for the last 50 days of trading for this stock 5.40, while it was recorded at 3.95 for the last single week of trading, and 15.33 for the last 200 days.
Nuvve Holding Corp [NVVE]: An insightful look at the core fundamentals
Nuvve Holding Corp’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.10 and a Current Ratio set at 1.48.
Earnings per share (EPS) analysis for Nuvve Holding Corp [NVVE] stock
With the latest financial reports released by the company, Nuvve Holding Corp posted -13.2/share EPS, while the average EPS was predicted by analysts to be reported at -13.4/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 1.50%. The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for NVVE.
Nuvve Holding Corp [NVVE]: Institutional Ownership
The top three institutional holders of NVVE stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2815%. BLACKROCK INC., holding 1.03 billion shares of the stock with an approximate value of $176.59 billion in NVVE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $156.75 billion in NVVE stock with ownership which is approximately 5.8325%.
