GE Vernova (NYSE:GEV) Stock Price Down 4.4%

Shares of GE Vernova Inc. (NYSE:GEV) traded down 4.4% on Tuesday . The stock traded as low as $161.54 and last traded at $162.89. 1,583,951 shares traded hands during trading, a decline of 67% from the average session volume of 4,868,018 shares. The stock had previously closed at $170.37.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on GEV shares. Bank of America assumed coverage on shares of GE Vernova in a report on Wednesday, April 24th. They issued a “neutral” rating and a $150.00 target price for the company. Melius began coverage on shares of GE Vernova in a research note on Monday, April 22nd. They set a “hold” rating and a $147.00 price objective for the company. Evercore ISI began coverage on GE Vernova in a research report on Thursday, April 18th. They issued an “outperform” rating and a $174.00 target price on the stock. Mizuho lifted their target price on GE Vernova from $154.00 to $164.00 and gave the company a “buy” rating in a report on Wednesday, May 1st. Finally, The Goldman Sachs Group assumed coverage on GE Vernova in a research note on Tuesday, April 16th. They set a “buy” rating and a $154.00 price target for the company. Three research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $165.90.

GE Vernova Price Performance

The firm has a 50-day moving average price of $154.55.

GE Vernova (NYSE:GEV) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.41) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.17). The business had revenue of $7.26 billion during the quarter, compared to analysts’ expectations of $7.56 billion. On average, analysts predict that GE Vernova Inc. will post 3.02 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Anderson Hoagland & Co. acquired a new position in GE Vernova in the 1st quarter worth $1,720,000. Maryland State Retirement & Pension System acquired a new stake in GE Vernova during the 1st quarter valued at approximately $2,892,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA bought a new stake in shares of GE Vernova in the 1st quarter worth about $478,000. Valeo Financial Advisors LLC acquired a new stake in shares of GE Vernova in the 1st quarter valued at about $673,000. Finally, Boit C F David acquired a new stake in shares of GE Vernova in the 1st quarter valued at about $149,000.

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.