GE Vernova (NYSE:GEV) Stock Price Down 1.1% – What’s Next?

GE Vernova Inc. (NYSE:GEV)’s stock price was down 1.1% during mid-day trading on Thursday . The stock traded as low as $329.63 and last traded at $335.33. Approximately 2,318,182 shares traded hands during mid-day trading, a decline of 34% from the average daily volume of 3,491,655 shares. The stock had previously closed at $338.89.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the stock. BMO Capital Markets raised their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Bank of America boosted their target price on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Barclays boosted their price target on shares of GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Guggenheim initiated coverage on GE Vernova in a research note on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price objective on the stock. Finally, Royal Bank of Canada lifted their target price on GE Vernova from $285.00 to $376.00 and gave the company an “outperform” rating in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $274.16.

GE Vernova Trading Down 0.3 %

The firm has a fifty day simple moving average of $295.95 and a 200-day simple moving average of $220.59.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Mountaineer Partners Management LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $2,507,296,000. Newport Trust Company LLC purchased a new position in GE Vernova during the 2nd quarter worth $650,140,000. Bank of New York Mellon Corp acquired a new position in GE Vernova in the second quarter valued at $537,674,000. Marshall Wace LLP purchased a new stake in shares of GE Vernova in the second quarter valued at about $399,770,000. Finally, Legal & General Group Plc acquired a new stake in shares of GE Vernova during the second quarter worth about $293,699,000.

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.