GE Vernova (NYSE:GEV) Stock Price Up 0.7% – Here’s Why

by · The Cerbat Gem

GE Vernova Inc. (NYSE:GEV – Get Free Report) shares shot up 0.7% during trading on Tuesday . The stock traded as high as $291.81 and last traded at $291.29. 613,634 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,563,656 shares. The stock had previously closed at $289.23.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on GEV. Jefferies Financial Group upped 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. Mizuho upped their target price on GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research report on Friday, July 26th. Deutsche Bank Aktiengesellschaft initiated coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. HSBC restated a “hold” rating and set a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Finally, Bank of America lifted their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

Read Our Latest Stock Analysis on GE Vernova

GE Vernova Price Performance

The firm’s 50-day simple moving average is $237.21 and its 200 day simple moving average is $191.71.

Institutional Investors Weigh In On GE Vernova

Hedge funds have recently modified their holdings of the stock. Maryland State Retirement & Pension System purchased a new stake in GE Vernova in the first quarter worth $2,892,000. Boit C F David bought a new stake in GE Vernova in the 1st quarter valued at about $149,000. ANTIPODES PARTNERS Ltd purchased a new stake in GE Vernova during the first quarter valued at about $30,000. Nwam LLC bought a new position in GE Vernova during the first quarter worth about $1,531,000. Finally, LRI Investments LLC purchased a new position in shares of GE Vernova in the first quarter worth about $63,000.

About GE Vernova

(Get Free Report)

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.

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