GE Vernova (NYSE:GEV) Stock Price Up 4.7% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) shares traded up 4.7% on Wednesday . The company traded as high as $343.64 and last traded at $339.05. 1,319,840 shares traded hands during trading, a decline of 63% from the average session volume of 3,524,327 shares. The stock had previously closed at $323.71.

Analysts Set New Price Targets

GEV has been the subject of several recent research reports. Mizuho upped their price target on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. The Goldman Sachs Group raised their target price on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. lifted their target price on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Truist Financial increased their price target on GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, Bank of America lifted their price objective on GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Seven research 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 stock. According to data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Stock Down 2.2 %

The stock has a 50 day simple moving average of $268.31 and a 200 day simple moving average of $206.42.

Institutional Trading of GE Vernova

Several hedge funds have recently bought and sold shares of the business. Newport Trust Company LLC bought a new position in shares of GE Vernova in the second quarter valued at $650,140,000. Bank of New York Mellon Corp bought a new position in GE Vernova in the 2nd quarter valued at about $537,674,000. Price T Rowe Associates Inc. MD acquired a new position in GE Vernova during the 1st quarter valued at about $367,474,000. Marshall Wace LLP bought a new stake in GE Vernova during the 2nd quarter worth approximately $399,770,000. Finally, Legal & General Group Plc purchased a new stake in shares of GE Vernova in the second quarter worth approximately $293,699,000.

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.