GE Vernova (NYSE:GEV) Shares Gap Down – What’s Next?

Shares of GE Vernova Inc. (NYSE:GEV) gapped down prior to trading on Monday . The stock had previously closed at $957.27, but opened at $881.51. GE Vernova shares last traded at $887.3010, with a volume of 662,875 shares changing hands.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen raised their price objective on shares of GE Vernova from $1,220.00 to $1,235.00 and gave the stock a “buy” rating in a report on Thursday, July 23rd. Morgan Stanley lowered shares of GE Vernova from an “overweight” rating to an “underweight” rating in a research report on Monday, August 3rd. Royal Bank Of Canada raised their price target on shares of GE Vernova from $1,195.00 to $1,225.00 and gave the stock an “outperform” rating in a research note on Thursday, July 23rd. BMO Capital Markets reaffirmed an “outperform” rating on shares of GE Vernova in a report on Friday, August 7th. Finally, William Blair reiterated an “outperform” rating on shares of GE Vernova in a research note on Monday, August 3rd. Two research analysts have rated the stock with a Strong Buy rating, twenty-one have given a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $1,129.60.

GE Vernova Price Performance

The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.62 and a current ratio of 0.85. The company’s 50 day moving average price is $999.15 and its 200 day moving average price is $983.91. The company has a market cap of $232.49 billion, a price-to-earnings ratio of 24.97, a P/E/G ratio of 4.45 and a beta of 1.15.

GE Vernova (NYSE:GEV) last announced its earnings results on Wednesday, July 22nd. The company reported $2.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The firm had revenue of $11.10 billion for the quarter, compared to analyst estimates of $10.79 billion. GE Vernova had a return on equity of 42.42% and a net margin of 23.03%.The company’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same quarter last year, the business earned $1.86 EPS. On average, equities research analysts predict that GE Vernova Inc. will post 15.36 earnings per share for the current fiscal year.

Institutional Trading of GE Vernova

Large investors have recently added to or reduced their stakes in the company. Onyx Bridge Wealth Group LLC boosted its position in shares of GE Vernova by 1.3% during the first quarter. Onyx Bridge Wealth Group LLC now owns 727 shares of the company’s stock valued at $635,000 after buying an additional 9 shares during the last quarter. Red Door Wealth Management LLC raised its position in GE Vernova by 0.6% in the 1st quarter. Red Door Wealth Management LLC now owns 1,774 shares of the company’s stock worth $1,548,000 after buying an additional 10 shares during the last quarter. Advance Capital Management Inc. raised its position in GE Vernova by 2.2% in the 1st quarter. Advance Capital Management Inc. now owns 461 shares of the company’s stock worth $402,000 after buying an additional 10 shares during the last quarter. Alpha Financial Partners LLC raised its position in GE Vernova by 2.0% in the 1st quarter. Alpha Financial Partners LLC now owns 514 shares of the company’s stock worth $449,000 after buying an additional 10 shares during the last quarter. Finally, Sandy Cove Advisors LLC lifted its stake in GE Vernova by 2.6% during the 2nd quarter. Sandy Cove Advisors LLC now owns 389 shares of the company’s stock valued at $457,000 after acquiring an additional 10 shares during the period.

About GE Vernova

GE Vernova Inc (NYSE: GEV) is an energy technology company that provides equipment, software and services for electricity generation, transmission and distribution. Its portfolio is designed to support power systems across a range of energy sources, including natural gas, nuclear, hydroelectric, wind and solar power, as well as battery storage.

The company operates through three primary businesses: Power, Wind and Electrification. Power supplies gas and steam turbines, generators, nuclear power technologies, hydroelectric equipment and related maintenance services.