GE Vernova (NYSE:GEV) Sets New 52-Week High – Time to Buy?

GE Vernova Inc. (NYSE:GEV)’s share price reached a new 52-week high during trading on Wednesday . The stock traded as high as $325.50 and last traded at $324.00, with a volume of 101362 shares. The stock had previously closed at $315.77.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on GEV shares. HSBC restated a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Truist Financial raised their price target on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Hsbc Global Res downgraded shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Evercore ISI lifted their price target on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Finally, Deutsche Bank Aktiengesellschaft started coverage on GE Vernova in a research report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Price Performance

The business has a fifty day moving average of $260.05 and a 200 day moving average of $202.14.

Hedge Funds Weigh In On GE Vernova

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