Stock Traders Purchase Large Volume of GE Vernova Call Options (NYSE:GEV)

GE Vernova Inc. (NYSE:GEV) was the target of some unusual options trading activity on Monday. Stock traders acquired 14,619 call options on the stock. This represents an increase of approximately 210% compared to the average volume of 4,712 call options.

Institutional Investors Weigh In On GE Vernova

Institutional investors have recently added to or reduced their stakes in the stock. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova in the second quarter valued at $25,000. Trifecta Capital Advisors LLC bought a new stake in GE Vernova in the second quarter worth $25,000. Meeder Asset Management Inc. bought a new stake in GE Vernova in the second quarter worth $25,000. Global Trust Asset Management LLC bought a new stake in GE Vernova in the second quarter worth $26,000. Finally, Timber Creek Capital Management LLC bought a new stake in GE Vernova in the second quarter worth $27,000.

Analysts Set New Price Targets

A number of analysts have recently commented on the stock. Redburn Atlantic assumed coverage on shares of GE Vernova in a report on Tuesday, July 2nd. They set a “neutral” rating and a $178.00 target price on the stock. Jefferies Financial Group started coverage on shares of GE Vernova in a report on Wednesday, September 4th. They set a “buy” rating and a $261.00 target price on the stock. Royal Bank of Canada upped their price target on shares of GE Vernova from $192.00 to $246.00 and gave the stock an “outperform” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $216.00 to $240.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. Finally, BMO Capital Markets started coverage on shares of GE Vernova in a research note on Friday, September 13th. They issued an “outperform” rating and a $245.00 price target on the stock. Three research analysts have rated the stock with a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $217.64.

GE Vernova Stock Up 3.8 %

Shares of NYSE:GEV opened at $238.57 on Wednesday. The company’s 50 day moving average is $184.31. GE Vernova has a 12-month low of $115.00 and a 12-month high of $240.00.

GE Vernova (NYSE:GEV) last announced its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to the consensus estimate of $8.42 billion. On average, sell-side analysts expect that GE Vernova will post 3.02 earnings per share for the current year.

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.