General Electric Company Short Interest Up 15.7% in July (GE)
General Electric Company (NYSE:GE) was the target of a large increase in short interest in July. As of July 31st, there was short interest totalling 67,205,943 shares, an increase of 15.7% from the July 15th total of 58,090,804 shares, Analyst Ratings.Net reports. Based on an average daily trading volume, of 35,996,163 shares, the short-interest ratio is currently 1.9 days. Currently, 0.7% of the shares of the stock are sold short.
GE has been the subject of a number of recent research reports. Analysts at Sanford C. Bernstein upgraded shares of General Electric Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $33.00 price target on the stock, up previously from $29.00. Separately, analysts at Bernstein upgraded shares of General Electric Company from a “market perform” rating to an “outperform” rating in a research note on Tuesday, August 5th. They now have a $33.00 price target on the stock, up previously from $29.00. Finally, analysts at Zacks reiterated a “neutral” rating on shares of General Electric Company in a research note on Tuesday, July 22nd. They now have a $27.00 price target on the stock. One analyst has rated the stock with a sell rating, five have issued a hold rating and nine have issued a buy rating to the company. General Electric Company presently has an average rating of “Buy” and an average target price of $29.23.
Shares of General Electric Company (NYSE:GE) opened at 25.83 on Thursday. General Electric Company has a 52-week low of $22.92 and a 52-week high of $28.09. The stock has a 50-day moving average of $26.05 and a 200-day moving average of $26.05. The company has a market cap of $259.2 billion and a P/E ratio of 20.10.
General Electric Company (NYSE:GE) last issued its quarterly earnings data on Friday, July 18th. The company reported $0.39 earnings per share for the quarter, meeting the analysts’ consensus estimate of $0.39. The company had revenue of $36.20 billion for the quarter, compared to the consensus estimate of $36.31 billion. During the same quarter last year, the company posted $0.36 earnings per share. General Electric Company’s revenue was up 3.3% compared to the same quarter last year. On average, analysts predict that General Electric Company will post $1.68 earnings per share for the current fiscal year.
General Electric Company (NYSE:GE) is a diversified technology and financial services company.
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