GE Vernova Inc. (NYSE:GEV) shares, rose in value on Friday, August 30, with the stock price up by 2.87% to the previous day’s close as strong demand from buyers drove the stock to $196.85.
Actively observing the price movement in the recent trading, the stock is buoying the session at $191.36, falling within a range of $194.2 and $197.48. Referring to stock’s 52-week performance, its high was $195.68, and the low was $115.00. On the whole, GEV has fluctuated by 13.11% over the past month.
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With the market capitalization of GE Vernova Inc. currently standing at about $54.09 billion, investors are eagerly awaiting this quarter’s results, scheduled for on 2024-Jul-24.
Projections by analysts suggest varying estimates for the company’s quarterly revenue. Analysts have estimated the company’s revenue for the quarter at 34.87B, with a low estimate of 8.51B and a high estimate of 9.03B. Wall Street analysts also predicted that the company’s y-o-y revenues would reach 8.73B.
The stock’s technical analysis shows that the price of GEV currently trading nearly 9.58% and 12.17% away from the simple moving averages for 20 and 50 days respectively. The Relative Strength Index (RSI, 14) currently indicates a reading of 65.70, while the 7-day volatility ratio is showing 4.02% which for the 30-day chart, stands at 4.39%. Furthermore, GE Vernova Inc. (GEV)’s average true range (ATR) is 7.60.
Data on historical trading for GE Vernova Inc. (NYSE:GEV) indicates that the trading volumes over the past 10 days have averaged 2.3 and over the past 3 months, they’ve averaged 3.08 million. According to company’s latest data on outstanding shares, there are 274.80 million shares outstanding.
Nearly 0.12% of GE Vernova Inc.’s shares belong to company insiders and institutional investors own 81.43% of the company’s shares. The data on short interest also indicates that stock shorts accounted for 4.05 million shares as on 2024-08-15, resulting in a short ratio of 1.2. The stock has risen by 49.98% since the beginning of the year, thereby showing the potential of a further growth. This could raise investors’ confidence to be optimistic about the GEV stock heading into the next quarter.
