Ted C. Smith, President and COO of Nuvve Holding Corp. (NASDAQ:NVVE), has acquired 7,155 shares of the company’s common stock. The transaction, which took place on December 20, 2024, was executed at a price of $2.88 per share, amounting to a total value of $20,606. Following this purchase, Smith now owns 12,855.31 shares directly. This acquisition reflects a continued investment in the company by its executive leadership.
In other recent news, Nuvve Holding Corporation reported significant growth in its Q3 2024 earnings call, despite various challenges. The company saw its revenues more than double from Q2, reaching $1.9 million, primarily due to service revenues from a major project. Alongside this, Nuvve managed to cut its operating costs and decreased its net loss compared to the previous year.
The company also revealed upcoming projects, including a substantial contract with Taipower Corporation in Taiwan. The company's gross margins improved to $1 million, attributed to better pricing and service revenue mix. However, it's worth noting that the year-to-date revenue slipped to $3.5 million from $6.7 million in 2023.
In addition to the financial updates, Nuvve anticipates continued growth in megawatts under management and aims to improve cash burn through lower operating costs and improved gross margins. These recent developments suggest a strategic focus on operational efficiency and market expansion for Nuvve Holding.
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