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

GE Vernova Inc. (NYSE:GEV)’s stock price dropped 1.3% during trading on Monday . The company traded as low as $289.11 and last traded at $289.86. Approximately 594,817 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 3,573,457 shares. The stock had previously closed at $293.54.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on GEV shares. Raymond James lowered shares of GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. HSBC reiterated a “hold” rating and set a $255.00 target price (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Evercore ISI increased their price target on shares of GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research note on Thursday. Barclays upped their price objective on GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday. Finally, Royal Bank of Canada lifted their target price on GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday. Seven equities research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, GE Vernova currently has an average rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Down 0.9 %

The business has a 50 day simple moving average of $235.14 and a 200-day simple moving average of $190.64.

Institutional Trading of GE Vernova

Large investors have recently bought and sold shares of the business. Deseret Mutual Benefit Administrators bought a new stake in shares of GE Vernova during the second quarter worth $25,000. Trifecta Capital Advisors LLC bought a new position in GE Vernova during the 2nd quarter worth about $25,000. Meeder Asset Management Inc. acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $25,000. Global Trust Asset Management LLC acquired a new stake in GE Vernova during the 2nd quarter valued at $26,000. Finally, Timber Creek Capital Management LLC acquired a new position in shares of GE Vernova in the second quarter valued at $27,000.

GE Vernova Company Profile

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.