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

GE Vernova Inc. (NYSE:GEV) saw some unusual options trading activity on Monday. Traders bought 14,619 call options on the company. This is an increase of approximately 210% compared to the typical volume of 4,712 call options.

GE Vernova Trading Up 2.5 %

GEV stock traded up $5.70 during trading on Monday, hitting $231.29. 1,241,110 shares of the company traded hands, compared to its average volume of 3,799,806. The stock’s 50-day moving average is $181.89. GE Vernova has a 1 year low of $115.00 and a 1 year high of $231.47.

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

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. HSBC assumed coverage on GE Vernova in a research note on Monday, August 12th. They set a “buy” rating and a $215.00 target price on the stock. Argus initiated coverage on shares of GE Vernova in a research note on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price for the company. Evercore ISI raised their price target on shares of GE Vernova from $202.00 to $240.00 and gave the stock an “outperform” rating in a report on Thursday. William Blair began coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Finally, Mizuho raised their target price on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Four research analysts have rated the stock with a hold rating, fifteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $205.64.

Institutional Trading of GE Vernova

Several institutional investors have recently bought and sold shares of the business. Newport Trust Company LLC acquired a new stake in GE Vernova in the second quarter valued at approximately $650,140,000. Bank of New York Mellon Corp acquired a new stake in GE Vernova in the second quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD acquired a new stake in GE Vernova in the first quarter valued at approximately $367,474,000. Marshall Wace LLP acquired a new stake in GE Vernova in the second quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc acquired a new stake in GE Vernova in the second quarter valued at approximately $293,699,000.

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.