GE Vernova (NYSE:GEV) Shares Gap Down – Time to Sell?

GE Vernova Inc. (NYSE:GEV) gapped down before the market opened 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 trading hands.

Analysts Set New Price Targets

GEV has been the subject of several recent analyst reports. Glj Research assumed coverage on GE Vernova in a research note on Monday. They set a “sell” rating and a $470.00 price target for the company. Wall Street Zen downgraded GE Vernova from a “buy” rating to a “hold” rating in a research note on Saturday, July 25th. JPMorgan Chase & Co. boosted their target price on GE Vernova from $1,302.00 to $1,330.00 and gave the stock an “overweight” rating in a report on Thursday, July 23rd. Sanford C. Bernstein increased their price target on GE Vernova from $1,206.00 to $1,298.00 and gave the company an “outperform” rating in a report on Thursday, July 23rd. Finally, Mizuho lifted their price target on shares of GE Vernova from $913.00 to $949.00 and gave the company a “neutral” rating in a research report on Friday, July 24th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating, four have assigned a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $1,129.60.

GE Vernova Price Performance

The company has a current ratio of 0.85, a quick ratio of 0.62 and a debt-to-equity ratio of 0.21. The stock has a fifty day simple moving average of $999.15 and a 200-day simple moving average of $983.91. The stock has a market cap of $232.49 billion, a price-to-earnings ratio of 24.97, a price-to-earnings-growth ratio of 4.45 and a beta of 1.15.

GE Vernova (NYSE:GEV) last issued its quarterly earnings results on Wednesday, July 22nd. The company reported $2.47 EPS for the quarter, missing analysts’ consensus estimates of $3.17 by ($0.70). The business 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 firm’s quarterly revenue was up 21.9% compared to the same quarter last year. During the same quarter last year, the firm earned $1.86 earnings per share. As a group, equities research analysts expect that GE Vernova Inc. will post 15.36 EPS for the current year.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently made changes to their positions in the stock. Cornerstone Financial Management LLC bought a new stake in shares of GE Vernova in the 4th quarter worth approximately $25,000. Wealth Watch Advisors INC bought a new stake in shares of GE Vernova during the third quarter valued at approximately $25,000. Manning & Napier Advisors LLC raised its stake in shares of GE Vernova by 68.4% in the first quarter. Manning & Napier Advisors LLC now owns 32 shares of the company’s stock valued at $26,000 after purchasing an additional 13 shares in the last quarter. Commonwealth Retirement Investments LLC acquired a new position in shares of GE Vernova in the fourth quarter valued at $30,000. Finally, Entelevest LLC bought a new position in GE Vernova in the fourth quarter worth $30,000.

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.