Short Interest in GE Vernova Inc. (NYSE:GEV) Expands By 17.7%

GE Vernova Inc. (NYSE:GEV - Get Free Report) saw a significant increase in short interest during the month of February. As of February 28th, there was short interest totalling 3,990,000 shares, an increase of 17.7% from the February 13th total of 3,390,000 shares. Currently, 1.5% of the company's stock are sold short. Based on an average daily trading volume, of 3,910,000 shares, the short-interest ratio is currently 1.0 days.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on GEV shares. Wolfe Research started coverage on GE Vernova in a research report on Wednesday, December 4th. They set an "outperform" rating and a $403.00 target price on the stock. Barclays cut their price objective on GE Vernova from $487.00 to $427.00 and set an "overweight" rating on the stock in a research report on Monday, March 3rd. TD Cowen started coverage on GE Vernova in a research report on Thursday, December 5th. They issued a "buy" rating and a $400.00 price objective on the stock. Baird R W raised GE Vernova to a "strong-buy" rating in a research report on Thursday, February 13th. Finally, BMO Capital Markets cut their price objective on GE Vernova from $471.00 to $420.00 and set an "outperform" rating on the stock in a research report on Monday, March 3rd. Seven analysts have rated the stock with a hold rating, twenty-two have issued a buy rating and four have given a strong buy rating to the stock. According to MarketBeat, GE Vernova has a consensus rating of "Moderate Buy" and a consensus price target of $348.72.

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GE Vernova Price Performance

NYSE GEV traded down $2.62 during trading on Friday, reaching $334.21. The company's stock had a trading volume of 3,010,670 shares, compared to its average volume of 3,519,873. The stock has a market capitalization of $92.21 billion and a PE ratio of 60.11. The firm has a fifty day moving average of $352.15 and a 200 day moving average of $318.32. GE Vernova has a one year low of $119.00 and a one year high of $447.50.

GE Vernova (NYSE:GEV - Get Free Report) last issued its earnings results on Wednesday, January 22nd. The company reported $1.73 earnings per share for the quarter, missing the consensus estimate of $2.30 by ($0.57). The company had revenue of $10.56 billion for the quarter, compared to analysts' expectations of $10.70 billion. GE Vernova had a net margin of 4.44% and a return on equity of 6.70%. The business's revenue was up 5.1% on a year-over-year basis. Research analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova announced that its Board of Directors has authorized a stock repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in shares. This buyback authorization authorizes the company to purchase up to 6.7% of its stock through open market purchases. Stock buyback plans are often a sign that the company's board of directors believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its holdings in GE Vernova by 3.4% during the 4th quarter. FMR LLC now owns 24,861,833 shares of the company's stock valued at $8,177,803,000 after acquiring an additional 814,155 shares during the period. Capital International Investors lifted its holdings in GE Vernova by 25.3% in the 4th quarter. Capital International Investors now owns 14,854,297 shares of the company's stock worth $4,886,164,000 after buying an additional 2,994,660 shares during the period. State Street Corp lifted its holdings in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company's stock worth $2,660,695,000 after buying an additional 118,184 shares during the period. Mountaineer Partners Management LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $2,507,296,000. Finally, Geode Capital Management LLC lifted its holdings in GE Vernova by 3.5% in the 4th quarter. Geode Capital Management LLC now owns 5,790,051 shares of the company's stock worth $1,898,814,000 after buying an additional 195,828 shares during the period.

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.