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Nuvve Holding Corp. (NVVE) Moves 12.7% Higher: Will This Strength Last?
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Nuvve Holding Corp. shares ended the last trading session 12.7% higher at $7.08. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 17.3% loss over the past four weeks.
Shares of Nuvve rose yesterday as the EV charging company entered into a MoU to collaborate with government agencies, utilities, and EV space leaders to ramp up the commercialization of vehicle-to-grid (V2G), vehicle-to-building (V2B), vehicle-to-home (V2H), and other vehicle-grid integration (VGI) technologies.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +44.2%. Revenues are expected to be $9 million, up 1025% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nuvve Holding Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVVE going forward to see if this recent jump can turn into more strength down the road.
Nuvve Holding Corp. is a member of the Zacks Automotive - Original Equipment industry. One other stock in the same industry, LCI (LCII - Free Report) , finished the last trading session 2.3% higher at $100.29. LCII has returned -7.9% over the past month.
LCI's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.48. Compared to the company's year-ago EPS, this represents a change of +52.9%. LCI currently boasts a Zacks Rank of #3 (Hold).
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Nuvve Holding Corp. (NVVE) Moves 12.7% Higher: Will This Strength Last?
Nuvve Holding Corp. shares ended the last trading session 12.7% higher at $7.08. The jump came on an impressive volume with a higher-than-average number of shares changing hands in the session. This compares to the stock's 17.3% loss over the past four weeks.
Shares of Nuvve rose yesterday as the EV charging company entered into a MoU to collaborate with government agencies, utilities, and EV space leaders to ramp up the commercialization of vehicle-to-grid (V2G), vehicle-to-building (V2B), vehicle-to-home (V2H), and other vehicle-grid integration (VGI) technologies.
This company is expected to post quarterly loss of $0.29 per share in its upcoming report, which represents a year-over-year change of +44.2%. Revenues are expected to be $9 million, up 1025% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For Nuvve Holding Corp., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on NVVE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
Nuvve Holding Corp. is a member of the Zacks Automotive - Original Equipment industry. One other stock in the same industry, LCI (LCII - Free Report) , finished the last trading session 2.3% higher at $100.29. LCII has returned -7.9% over the past month.
LCI's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $4.48. Compared to the company's year-ago EPS, this represents a change of +52.9%. LCI currently boasts a Zacks Rank of #3 (Hold).