Nuvve (NASDAQ:NVVE) Stock Price Down 7.1% – Here’s Why

Nuvve Holding Corp. (NASDAQ:NVVE)’s share price fell 7.1% during trading on Friday . The stock traded as low as $2.84 and last traded at $2.88. 17,607 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 29,718 shares. The stock had previously closed at $3.10.

Nuvve Price Performance

The company has a fifty day moving average price of $3.39 and a two-hundred day moving average price of $4.64. The company has a market capitalization of $2.52 million, a P/E ratio of -0.03 and a beta of 1.90.

Hedge Funds Weigh In On Nuvve

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

Nuvve Company Profile

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.