GE Vernova Inc. (NYSE:GEV) Short Interest Update

GE Vernova Inc. (NYSE:GEV) was the recipient of a large increase in short interest in the month of August. As of August 31st, there was short interest totalling 4,670,000 shares, an increase of 20.7% from the August 15th total of 3,870,000 shares. Currently, 1.7% of the shares of the company are sold short. Based on an average daily volume of 2,900,000 shares, the short-interest ratio is presently 1.6 days.

GE Vernova Stock Performance

GE Vernova stock traded up $6.62 during trading on Tuesday, reaching $236.55. 3,930,354 shares of the company were exchanged, compared to its average volume of 3,810,094. The firm’s 50 day moving average price is $183.00. GE Vernova has a 52-week low of $115.00 and a 52-week high of $240.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. On average, analysts predict that GE Vernova will post 3.02 EPS for the current fiscal year.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently made changes to their positions in GEV. Newbridge Financial Services Group Inc. acquired a new position in GE Vernova during the second quarter worth $76,000. SS&H Financial Advisors Inc. purchased a new stake in shares of GE Vernova in the 2nd quarter valued at $641,000. Prio Wealth Limited Partnership acquired a new position in GE Vernova during the 2nd quarter worth about $1,223,000. Sanctuary Advisors LLC purchased a new position in GE Vernova during the 2nd quarter valued at about $3,025,000. Finally, NCP Inc. acquired a new position in GE Vernova in the 2nd quarter valued at about $108,000.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Morgan Stanley upped their price objective on shares of GE Vernova from $220.00 to $256.00 and gave the stock an “overweight” rating in a research report on Friday. Citigroup assumed coverage on GE Vernova in a research report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price target on the stock. Daiwa Capital Markets started coverage on GE Vernova in a report on Friday, June 21st. They issued an “outperform” rating and a $201.50 price objective on the stock. William Blair began coverage on GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Finally, Mizuho increased their target price on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $217.64.

GE Vernova Company Profile

GE Vernova LLC, an energy business company, generates electricity. It operates under three segments: Power, Wind, and Electrification. The Power segments generates and sells electricity through hydro, gas, nuclear, and steam power. Wind segment engages in the manufacturing and sale of wind turbine blades; and Electrification segment provides grid solutions, power conversion, solar, and storage solutions.