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

GE Vernova Inc. (NYSE:GEV - Get Free Report) was the recipient of a large increase in short interest in the month of March. As of March 15th, there was short interest totalling 4,880,000 shares, an increase of 22.3% from the February 28th total of 3,990,000 shares. Based on an average daily volume of 3,910,000 shares, the short-interest ratio is presently 1.2 days. Approximately 1.8% of the shares of the stock are short sold.

Institutional Trading of GE Vernova

A number of large investors have recently made changes to their positions in GEV. Cedar Mountain Advisors LLC grew its position in GE Vernova by 102.6% in the 4th quarter. Cedar Mountain Advisors LLC now owns 77 shares of the company's stock worth $25,000 after purchasing an additional 39 shares during the period. MRP Capital Investments LLC purchased a new position in shares of GE Vernova in the 4th quarter worth $25,000. Fairway Wealth LLC grew its holdings in shares of GE Vernova by 220.0% in the fourth quarter. Fairway Wealth LLC now owns 80 shares of the company's stock worth $26,000 after acquiring an additional 55 shares during the period. Pineridge Advisors LLC increased its position in GE Vernova by 530.8% during the fourth quarter. Pineridge Advisors LLC now owns 82 shares of the company's stock valued at $27,000 after acquiring an additional 69 shares during the last quarter. Finally, Navigoe LLC bought a new position in GE Vernova in the fourth quarter valued at about $27,000.

GE Vernova Trading Down 8.8 %

GEV traded down $26.26 during trading on Friday, hitting $271.40. 8,093,637 shares of the company's stock traded hands, compared to its average volume of 3,503,208. The stock has a market capitalization of $74.19 billion and a price-to-earnings ratio of 48.81. The company's 50 day simple moving average is $334.07 and its two-hundred day simple moving average is $324.74. GE Vernova has a 12-month low of $119.00 and a 12-month high of $447.50.

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

GE Vernova announced that its Board of Directors has initiated a share repurchase plan on Tuesday, December 10th that authorizes the company to buyback $6.00 billion in outstanding shares. This buyback authorization authorizes the company to reacquire up to 6.7% of its shares through open market purchases. Shares buyback plans are generally an indication that the company's leadership believes its stock is undervalued.

Analysts Set New Price Targets

GEV has been the topic of several research analyst reports. Guggenheim raised shares of GE Vernova from a "neutral" rating to a "buy" rating and set a $380.00 price target on the stock in a report on Wednesday, March 5th. Susquehanna began coverage on GE Vernova in a research report on Wednesday. They set a "positive" rating and a $370.00 target price for the company. Evercore ISI raised their price target on GE Vernova from $385.00 to $390.00 and gave the company an "outperform" rating in a report on Wednesday, December 11th. Citigroup boosted their price objective on GE Vernova from $361.00 to $437.00 and gave the stock a "neutral" rating in a report on Thursday, January 23rd. Finally, Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an "outperform" rating on the stock in a research report on Tuesday, March 18th. Seven equities research analysts have rated the stock with a hold rating, twenty-three have issued a buy rating and four have issued a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $349.20.

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.