GE Vernova Inc. (NYSE:GEV – Get Free Report) saw 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. Based on an average daily volume of 2,900,000 shares, the days-to-cover ratio is presently 1.6 days. Approximately 1.7% of the shares of the company are short sold.
Wall Street Analyst Weigh In
GEV has been the topic of several analyst reports. Daiwa Capital Markets assumed coverage on GE Vernova in a research report on Friday, June 21st. They set an “outperform” rating and a $201.50 price target on the stock. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Redburn Atlantic started coverage on shares of GE Vernova in a research report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 price target for the company. Royal Bank of Canada increased their price objective on GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research report on Tuesday. Finally, Barclays started coverage on GE Vernova in a research report on Monday. They set an “overweight” rating and a $250.00 target price for the company. Three investment analysts have rated the stock with a hold rating, sixteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $217.64.
Institutional Investors Weigh In On GE Vernova
GE Vernova Stock Up 2.8 %
Shares of GEV traded up $6.53 on Tuesday, reaching $236.46. The stock had a trading volume of 3,404,449 shares, compared to its average volume of 3,805,674. The company’s 50-day moving average price is $183.00. GE Vernova has a 12-month low of $115.00 and a 12-month high of $240.00.
GE Vernova (NYSE:GEV – Get Free Report) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, beating the consensus estimate of $0.69 by $0.02. The firm had revenue of $8.20 billion for the quarter, compared to analysts’ expectations of $8.42 billion. Equities analysts anticipate that GE Vernova will post 3.02 EPS for the current 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.
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