GE Vernova (NYSE:GEV) Stock Price Down 0.6% – Should You Sell?

Shares of GE Vernova Inc. (NYSE:GEV) dropped 0.6% on Wednesday . The stock traded as low as $294.90 and last traded at $297.11. Approximately 479,239 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 3,553,454 shares. The stock had previously closed at $298.77.

Analyst Upgrades and Downgrades

GEV has been the topic of several research analyst reports. Oppenheimer initiated coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “market perform” rating on the stock. The Goldman Sachs Group increased their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. BMO Capital Markets increased their price target on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Mizuho increased their price target on shares of GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research report on Friday, July 26th. Finally, Bank of America increased their price target 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. Seven research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Stock Up 0.3 %

The business has a fifty day simple moving average of $244.09 and a 200-day simple moving average of $194.36.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently added to or reduced their stakes in GEV. Maryland State Retirement & Pension System bought a new position in shares of GE Vernova during the first quarter valued at $2,892,000. Boit C F David bought a new stake in GE Vernova in the 1st quarter worth about $149,000. ANTIPODES PARTNERS Ltd bought a new stake in GE Vernova in the 1st quarter worth about $30,000. Nwam LLC bought a new stake in GE Vernova in the 1st quarter worth about $1,531,000. Finally, LRI Investments LLC bought a new stake in GE Vernova in the 1st quarter worth about $63,000.

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.