GE Vernova (NYSE:GEV) Trading 0.7% Higher – Time to Buy?

Shares of GE Vernova Inc. (NYSE:GEV) shot up 0.7% during trading on Monday . The stock traded as high as $348.12 and last traded at $343.42. 537,145 shares were traded during mid-day trading, a decline of 85% from the average session volume of 3,509,491 shares. The stock had previously closed at $341.18.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on GEV shares. Bank of America boosted their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research report on Thursday, October 24th. Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They issued a “market perform” rating on the stock. The Goldman Sachs Group lifted their target price on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Barclays raised their price target on GE Vernova from $300.00 to $320.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, 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 research note on Friday, October 18th. Seven investment analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Stock Performance

The stock’s 50 day simple moving average is $265.64 and its 200-day simple moving average is $205.53.

Institutional Trading of GE Vernova

Several large investors have recently added to or reduced their stakes in GEV. Castleview Partners LLC acquired a new stake in shares of GE Vernova in the third quarter valued at approximately $28,000. Covestor Ltd grew its holdings in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC acquired a new stake in GE Vernova during the third quarter worth about $31,000. Planning Capital Management Corp raised its stake in GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after purchasing an additional 130 shares during the period. Finally, Deseret Mutual Benefit Administrators acquired a new position in GE Vernova in the 2nd quarter valued at about $25,000.

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.