GE Vernova (NYSE:GEV) Shares Down 2.3% – What’s Next?

GE Vernova Inc. (NYSE:GEVGet Free Report) traded down 2.3% during trading on Wednesday . The stock traded as low as $329.63 and last traded at $331.09. 561,038 shares changed hands during trading, a decline of 84% from the average session volume of 3,480,448 shares. The stock had previously closed at $338.89.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of research analyst reports. Deutsche Bank Aktiengesellschaft began coverage on GE Vernova in a report on Monday, October 21st. They set a “buy” rating and a $354.00 price target on the stock. HSBC reissued a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating for the company. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. Finally, Morgan Stanley raised their target price on GE Vernova from $301.00 to $367.00 and gave the company an “overweight” rating in a research note on Friday, November 15th. 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 data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

View Our Latest Stock Report on GE Vernova

GE Vernova Price Performance

The stock’s 50-day simple moving average is $290.36 and its 200-day simple moving average is $217.76.

Institutional Trading of GE Vernova

Institutional investors and hedge funds have recently modified their holdings of the business. Franklin Resources Inc. grew its stake in GE Vernova by 3.7% in the 3rd quarter. Franklin Resources Inc. now owns 1,978,691 shares of the company’s stock valued at $533,257,000 after purchasing an additional 71,067 shares during the period. Tidal Investments LLC grew its position in GE Vernova by 5.4% during the third quarter. Tidal Investments LLC now owns 7,271 shares of the company’s stock valued at $1,854,000 after buying an additional 374 shares during the period. Optimist Retirement Group LLC bought a new position in GE Vernova during the third quarter valued at about $249,000. Blankinship & Foster LLC purchased a new stake in GE Vernova during the third quarter worth about $204,000. Finally, Wilmington Savings Fund Society FSB raised its position in GE Vernova by 219.7% in the third quarter. Wilmington Savings Fund Society FSB now owns 10,265 shares of the company’s stock worth $2,617,000 after acquiring an additional 7,054 shares during the period.

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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