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

Shares of GE Vernova Inc. (NYSE:GEV) dropped 1.1% during mid-day trading on Thursday . The company 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.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on GEV. BMO Capital Markets upped their price target on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Barclays raised their target price on shares of GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Guggenheim initiated coverage on GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price target on the stock. Bank of America upped their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Jefferies Financial Group raised their price target on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research note on Friday, October 18th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $274.16.

GE Vernova Stock Performance

The firm has a 50 day moving average price of $292.35 and a two-hundred day moving average price of $218.58.

Institutional Trading of GE Vernova

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Deseret Mutual Benefit Administrators purchased a new position in GE Vernova during the second quarter valued at approximately $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova in the second quarter worth approximately $25,000. Meeder Asset Management Inc. bought a new stake in GE Vernova in the second quarter worth $25,000. Global Trust Asset Management LLC bought a new position in GE Vernova during the 2nd quarter worth approximately $26,000. Finally, Timber Creek Capital Management LLC bought a new stake in GE Vernova during the 2nd quarter valued at $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.