GE Vernova Target of Unusually High Options Trading (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) saw some unusual options trading activity on Wednesday. Investors purchased 6,172 put options on the stock. This represents an increase of approximately 41% compared to the typical daily volume of 4,363 put options.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the company. JPMorgan Chase & Co. upped their target price on GE Vernova from $186.00 to $195.00 and gave the stock an “overweight” rating in a report on Tuesday. Citigroup initiated coverage on shares of GE Vernova in a research note on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective on the stock. Redburn Atlantic started coverage on GE Vernova in a research note on Tuesday, July 2nd. They issued a “neutral” rating and a $178.00 target price on the stock. BNP Paribas began coverage on shares of GE Vernova in a research report on Wednesday, April 17th. They set an “outperform” rating and a $177.00 price target for the company. Finally, Royal Bank of Canada raised their price target on shares of GE Vernova from $160.00 to $180.00 and gave the company an “outperform” rating in a report on Thursday, May 30th. Five investment analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $175.89.

Institutional Trading of GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of GEV. Wedmont Private Capital lifted its holdings in shares of GE Vernova by 3.2% in the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock valued at $638,000 after acquiring an additional 109 shares during the last quarter. Global Trust Asset Management LLC bought a new stake in shares of GE Vernova in the 2nd quarter worth about $26,000. First Community Trust NA bought a new position in GE Vernova during the 2nd quarter valued at about $29,000. Lynx Investment Advisory purchased a new stake in shares of GE Vernova in the second quarter worth approximately $34,000. Finally, Rise Advisors LLC bought a new stake in shares of GE Vernova during the 2nd quarter worth approximately $35,000.

GE Vernova Stock Performance

GE Vernova stock traded down $9.64 during trading on Wednesday, reaching $173.10. The company had a trading volume of 1,783,926 shares, compared to its average volume of 4,207,128. GE Vernova has a 52 week low of $115.00 and a 52 week high of $185.50. The business’s 50-day moving average is $171.66.

GE Vernova (NYSE:GEV) last released its earnings results on Thursday, April 25th. The company reported ($0.41) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The business had revenue of $7.26 billion for the quarter, compared to the consensus estimate of $7.56 billion. Analysts predict that GE Vernova will post 3.07 EPS for the current 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.