GE Vernova (NYSE:GEV) Trading Up 0.2% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) shares shot up 0.2% on Friday . The stock traded as high as $336.62 and last traded at $335.86. 301,643 shares traded hands during trading, a decline of 91% from the average session volume of 3,472,891 shares. The stock had previously closed at $335.33.

Wall Street Analyst Weigh In

Several equities analysts have commented on GEV shares. William Blair assumed coverage on shares of GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. Oppenheimer started coverage on GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Barclays lifted their price objective on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, Royal Bank of Canada upped their target price on shares of GE Vernova from $285.00 to $376.00 and gave the stock an “outperform” rating in a research note on Monday. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $274.16.

GE Vernova Price Performance

The business’s fifty day moving average price is $294.17 and its 200 day moving average price is $219.39.

Institutional Investors Weigh In On GE Vernova

Several hedge funds have recently made changes to their positions in the business. Deseret Mutual Benefit Administrators acquired a new position in shares of GE Vernova in the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC acquired a new position in shares of GE Vernova during the second quarter worth about $25,000. Meeder Asset Management Inc. purchased a new position in GE Vernova during the second quarter worth about $25,000. Global Trust Asset Management LLC acquired a new stake in GE Vernova in the second quarter valued at about $26,000. Finally, Timber Creek Capital Management LLC purchased a new stake in GE Vernova in the 2nd quarter valued at approximately $27,000.

GE Vernova Company Profile

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.