GE Vernova (NYSE:GEV) Trading Down 2.5% – Here’s Why

GE Vernova Inc. (NYSE:GEV)’s stock price traded down 2.5% during mid-day trading on Tuesday . The company traded as low as $329.00 and last traded at $329.16. 610,824 shares changed hands during mid-day trading, a decline of 82% from the average session volume of 3,452,343 shares. The stock had previously closed at $337.54.

Analyst Ratings Changes

Several analysts have recently commented on GEV shares. Raymond James cut shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Wolfe Research started coverage on shares of GE Vernova in a research note on Wednesday. They issued an “outperform” rating and a $403.00 target price on the stock. 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 report on Monday, October 14th. Jefferies Financial Group raised their target price on GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, Royal Bank of Canada raised their target price on GE Vernova from $285.00 to $376.00 and gave the stock an “outperform” rating in a report on Monday, November 25th. Seven research analysts have rated the stock with a hold rating, nineteen have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average target price of $280.89.

GE Vernova Price Performance

The firm has a 50 day simple moving average of $300.97 and a 200-day simple moving average of $224.59.

Institutional Trading of GE Vernova

Several institutional investors and hedge funds have recently bought and sold shares of GEV. 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 GE Vernova in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova during the 2nd quarter worth $25,000. Global Trust Asset Management LLC acquired a new stake in shares of GE Vernova during the second quarter worth $26,000. Finally, Timber Creek Capital Management LLC bought a new position in GE Vernova during the second quarter worth about $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.