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

GE Vernova Inc. (NYSE:GEV) was the recipient of a large growth in short interest in February. As of February 28th, there was short interest totalling 3,990,000 shares, a growth of 17.7% from the February 13th total of 3,390,000 shares. Based on an average daily trading volume, of 3,910,000 shares, the days-to-cover ratio is presently 1.0 days. Approximately 1.5% of the shares of the stock are sold short.

Wall Street Analysts Forecast Growth

GEV has been the subject of several recent research reports. Robert W. Baird began coverage on GE Vernova in a research report on Thursday, February 13th. They issued an “outperform” rating and a $448.00 price target for the company. Truist Financial lifted their target price on GE Vernova from $420.00 to $470.00 and gave the stock a “buy” rating in a report on Thursday, January 23rd. Jefferies Financial Group increased their price target on GE Vernova from $348.00 to $391.00 and gave the company a “buy” rating in a report on Friday, December 13th. Royal Bank of Canada lowered their price target on GE Vernova from $453.00 to $445.00 and set an “outperform” rating for the company in a research report on Tuesday. Finally, Wolfe Research began coverage on shares of GE Vernova in a research report on Wednesday, December 4th. They set an “outperform” rating and a $403.00 price objective on the stock. Seven investment analysts have rated the stock with a hold rating, twenty-two have assigned a buy rating and four have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $348.72.

GE Vernova Stock Performance

NYSE GEV opened at $336.46 on Friday. GE Vernova has a one year low of $119.00 and a one year high of $447.50. The company has a market capitalization of $92.83 billion and a price-to-earnings ratio of 60.51. The company’s 50-day simple moving average is $352.82 and its two-hundred day simple moving average is $316.52.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, January 22nd. The company reported $1.73 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.30 by ($0.57). The business 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%. GE Vernova’s revenue for the quarter was up 5.1% compared to the same quarter last year. Equities analysts expect that GE Vernova will post 6.59 earnings per share for the current fiscal year.

GE Vernova declared that its board has approved a stock buyback program on Tuesday, December 10th that authorizes the company to repurchase $6.00 billion in shares. This repurchase authorization authorizes the company to repurchase up to 6.7% of its shares through open market purchases. Shares repurchase programs are often an indication that the company’s management believes its stock is undervalued.

Institutional Investors Weigh In On GE Vernova

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

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.