GE Vernova (NYSE:GEV) Stock Price Down 0.6% – Should You Sell?

GE Vernova Inc. (NYSE:GEV) dropped 0.6% during trading on Wednesday . The stock traded as low as $294.90 and last traded at $297.11. Approximately 479,239 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 3,553,454 shares. The stock had previously closed at $298.77.

Analyst Ratings Changes

GEV has been the subject of several research analyst reports. HSBC reiterated a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a report on Friday, October 4th. BMO Capital Markets raised their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Royal Bank of Canada raised their target price on GE Vernova from $262.00 to $285.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Barclays raised their target price on GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, William Blair began coverage on GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating on the stock. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Stock Up 0.3 %

The stock has a fifty day moving average of $244.09 and a 200 day moving average of $194.36.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Deseret Mutual Benefit Administrators bought a new stake in GE Vernova in the 2nd quarter worth approximately $25,000. Trifecta Capital Advisors LLC bought a new stake in GE Vernova in the 2nd quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in GE Vernova in the 2nd quarter worth approximately $25,000. Global Trust Asset Management LLC bought a new stake in GE Vernova in the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new stake in GE Vernova in the 2nd quarter worth approximately $27,000.

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.