GE Vernova Sees Unusually High Options Volume (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) was the recipient of some unusual options trading activity on Monday. Stock traders purchased 14,619 call options on the stock. This is an increase of approximately 210% compared to the average daily volume of 4,712 call options.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Newport Trust Company LLC purchased a new position in shares of GE Vernova during the second quarter valued at approximately $650,140,000. Bank of New York Mellon Corp purchased a new position in GE Vernova during the 2nd quarter valued at $537,674,000. Price T Rowe Associates Inc. MD bought a new position in GE Vernova in the 1st quarter valued at $367,474,000. Marshall Wace LLP purchased a new stake in GE Vernova in the second quarter worth $399,770,000. Finally, Legal & General Group Plc bought a new stake in shares of GE Vernova during the second quarter worth $293,699,000.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on GEV shares. Redburn Atlantic began coverage on GE Vernova in a research note on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 price objective on the stock. Royal Bank of Canada reiterated an “outperform” rating and issued a $180.00 price objective on shares of GE Vernova in a research note on Monday, July 22nd. Morgan Stanley upped their price objective on GE Vernova from $220.00 to $256.00 and gave the company an “overweight” rating in a research note on Friday. Hsbc Global Res raised shares of GE Vernova to a “strong-buy” rating in a report on Monday, August 12th. Finally, HSBC began coverage on shares of GE Vernova in a report on Monday, August 12th. They set a “buy” rating and a $215.00 target price on the stock. Four investment analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $205.64.

GE Vernova Trading Up 2.5 %

GEV traded up $5.70 during mid-day trading on Monday, reaching $231.29. 1,241,110 shares of the company traded hands, compared to its average volume of 3,799,806. The stock’s fifty day moving average is $181.89. GE Vernova has a 52-week low of $115.00 and a 52-week high of $231.47.

GE Vernova (NYSE:GEV) last issued its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion during the quarter, compared to the consensus estimate of $8.42 billion. As a group, research analysts forecast that GE Vernova will post 3.02 EPS for the current fiscal year.

About GE Vernova

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.