GE Vernova Inc. (NYSE:GEV) Sees Large Increase in Short Interest

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

Institutional Investors Weigh In On GE Vernova

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

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. JPMorgan Chase & Co. boosted their target price on GE Vernova from $216.00 to $240.00 and gave the company an “overweight” rating in a research report on Friday. Royal Bank of Canada boosted their price objective on shares of GE Vernova from $192.00 to $246.00 and gave the company an “outperform” rating in a research report on Tuesday. Evercore ISI lifted their price target on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a research note on Thursday, September 12th. BMO Capital Markets began coverage on shares of GE Vernova in a research report on Friday. They issued an “outperform” rating and a $245.00 price objective on the stock. Finally, The Goldman Sachs Group boosted their target price on GE Vernova from $196.00 to $220.00 and gave the company a “buy” rating in a research report on Friday, July 26th. Three analysts have rated the stock with a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and an average price target of $217.64.

GE Vernova Price Performance

Shares of GE Vernova stock traded up $6.62 during trading on Tuesday, reaching $236.55. The company’s stock had a trading volume of 3,930,354 shares, compared to its average volume of 3,810,094. GE Vernova has a 1-year low of $115.00 and a 1-year high of $240.00. The company has a 50-day moving average price of $183.00.

GE Vernova (NYSE:GEV) last released its earnings results on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, equities research analysts anticipate that GE Vernova will post 3.02 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.