GE Vernova (NYSE:GEV) Stock Price Down 1.3% – Here’s Why

Shares of GE Vernova Inc. (NYSE:GEV) were down 1.3% during mid-day trading on Thursday . The company traded as low as $328.82 and last traded at $328.92. Approximately 538,526 shares were traded during mid-day trading, a decline of 85% from the average daily volume of 3,515,877 shares. The stock had previously closed at $333.26.

Analysts Set New Price Targets

Several analysts have commented on the stock. The Goldman Sachs Group raised their price objective on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Hsbc Global Res cut GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Bank of America raised their price objective on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. BMO Capital Markets upped their target price on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research report on Monday, October 14th. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research report on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus target price of $264.55.

GE Vernova Stock Performance

The company’s 50 day moving average price is $273.49 and its two-hundred day moving average price is $208.44.

Hedge Funds Weigh In On GE Vernova

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