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

GE Vernova Inc. (NYSE:GEV) saw a significant decrease in short interest in September. As of September 30th, there was short interest totalling 4,770,000 shares, a decrease of 8.6% from the September 15th total of 5,220,000 shares. Approximately 1.7% of the shares of the stock are short sold. Based on an average daily volume of 2,950,000 shares, the short-interest ratio is currently 1.6 days.

Wall Street Analysts Forecast Growth

GEV has been the subject of a number of analyst reports. William Blair began coverage on GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating for the company. Jefferies Financial Group lifted their target price on shares of GE Vernova from $261.00 to $293.00 and gave the stock a “buy” rating in a report on Friday, September 20th. The Goldman Sachs Group lifted their price objective on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Evercore ISI raised their price objective on GE Vernova from $285.00 to $300.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Mizuho raised their price objective on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, sixteen have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $243.78.

Institutional Investors Weigh In On GE Vernova

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

GE Vernova Stock Performance

Shares of GE Vernova stock traded down $2.77 during trading on Thursday, reaching $272.00. The company had a trading volume of 2,449,655 shares, compared to its average volume of 3,622,460. The firm’s fifty day moving average is $221.17 and its 200-day moving average is $183.61. GE Vernova has a fifty-two week low of $115.00 and a fifty-two week high of $281.37.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate 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. Equities analysts forecast that GE Vernova will post 3.21 earnings per share for the current fiscal year.

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.