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

GE Vernova Inc. (NYSE:GEV) saw a large growth in short interest in November. As of November 15th, there was short interest totalling 5,190,000 shares, a growth of 11.1% from the October 31st total of 4,670,000 shares. Approximately 1.9% of the company’s shares are short sold. Based on an average daily volume of 2,840,000 shares, the short-interest ratio is currently 1.8 days.

Hedge Funds Weigh In On GE Vernova

Several hedge funds have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in GE Vernova by 2.5% during the 3rd quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after purchasing an additional 584,208 shares during the last quarter. State Street Corp boosted its position in GE Vernova by 1.1% in the 3rd quarter. State Street Corp now owns 10,434,917 shares of the company’s stock valued at $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 valued at about $2,507,296,000. Geode Capital Management LLC boosted its position in GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares during the period. Finally, Newport Trust Company LLC purchased a new stake in GE Vernova in the 2nd quarter valued at about $650,140,000.

GE Vernova Stock Performance

NYSE:GEV traded up $5.20 during mid-day trading on Monday, hitting $339.32. 1,584,214 shares of the stock traded hands, compared to its average volume of 3,464,793. GE Vernova has a 52 week low of $115.00 and a 52 week high of $357.09. The firm’s 50 day moving average is $295.95 and its two-hundred day moving average is $221.35.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on GEV shares. Morgan Stanley increased their price target on shares of GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research report on Friday, November 15th. BMO Capital Markets boosted their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a report on Monday, October 14th. Jefferies Financial Group increased their price objective on shares of GE Vernova from $293.00 to $336.00 and gave the company a “buy” rating in a research report on Friday, October 18th. Guggenheim started coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. Seven research analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, GE Vernova currently has an average rating of “Moderate Buy” and an average target price of $274.16.

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.