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

GE Vernova Inc. (NYSE:GEV) saw some unusual options trading on Monday. Stock investors purchased 14,619 call options on the stock. This is an increase of 210% compared to the typical daily volume of 4,712 call options.

Wall Street Analyst Weigh In

Several analysts have issued reports on GEV shares. Citigroup started coverage on shares of GE Vernova in a research report on Tuesday, June 11th. They issued a “neutral” rating and a $183.00 price target on the stock. William Blair assumed coverage on GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating on the stock. Argus started coverage on GE Vernova in a research note on Thursday, June 13th. They issued a “buy” rating and a $190.00 target price for the company. Daiwa America upgraded shares of GE Vernova to a “strong-buy” rating in a research note on Friday, June 21st. Finally, BMO Capital Markets began coverage on shares of GE Vernova in a research note on Friday. They issued an “outperform” rating and a $245.00 price objective for the company. 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’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.64.

GE Vernova Trading Up 1.9 %

Shares of NYSE GEV opened at $229.93 on Tuesday. GE Vernova has a twelve month low of $115.00 and a twelve month high of $231.51. The stock’s fifty day moving average price is $183.00.

GE Vernova (NYSE:GEV) last issued its quarterly earnings data on Wednesday, July 24th. The company reported $0.71 EPS for the quarter, topping analysts’ consensus estimates of $0.69 by $0.02. The company had revenue of $8.20 billion for the quarter, compared to analyst estimates of $8.42 billion. As a group, equities analysts anticipate that GE Vernova will post 3.02 earnings per share for the current fiscal year.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently bought and sold shares of the company. Deseret Mutual Benefit Administrators acquired a new position in GE Vernova in the 2nd quarter valued at about $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova during the 2nd quarter worth $25,000. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova during the second quarter worth $25,000. Global Trust Asset Management LLC bought a new stake in shares of GE Vernova in the second quarter valued at about $26,000. Finally, Gradient Investments LLC acquired a new position in shares of GE Vernova in the second quarter valued at about $27,000.

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.