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

GE Vernova Inc. (NYSE:GEV)’s share price traded down 2.3% during mid-day trading on Wednesday . The stock traded as low as $329.63 and last traded at $331.09. 561,038 shares were traded during trading, a decline of 84% from the average session volume of 3,480,448 shares. The stock had previously closed at $338.89.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Wells Fargo & Company initiated coverage on GE Vernova in a research note on Thursday, November 21st. They issued an “overweight” rating and a $385.00 price target for the company. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a research report on Monday, October 21st. They issued a “buy” rating and a $354.00 target price for the company. Truist Financial lifted their price objective on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Jefferies Financial Group upped their price objective on shares of GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a report on Friday, October 18th. Finally, BMO Capital Markets raised their target price on GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a report on Monday, October 14th. Seven analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $274.16.

GE Vernova Trading Down 1.1 %

The business has a 50-day moving average price of $294.17 and a 200-day moving average price of $219.39.

Hedge Funds Weigh In On GE Vernova

A number of hedge funds have recently made changes to their positions in the business. Castleview Partners LLC acquired a new position in GE Vernova in the third quarter worth about $28,000. Covestor Ltd raised its holdings in shares of GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after buying an additional 46 shares in the last quarter. Darwin Wealth Management LLC bought a new position in shares of GE Vernova during the 3rd quarter worth approximately $31,000. Prestige Wealth Management Group LLC lifted its position in shares of GE Vernova by 175.0% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after buying an additional 77 shares during the period. Finally, Planning Capital Management Corp lifted its holdings in shares of GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock valued at $36,000 after acquiring an additional 130 shares during the period.

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.