GE Vernova (NYSE:GEV) Trading 3% Higher – Here’s Why

GE Vernova Inc. (NYSE:GEV) shares shot up 3% on Friday . The company traded as high as $311.53 and last traded at $310.65. 746,272 shares changed hands during mid-day trading, a decline of 79% from the average session volume of 3,538,953 shares. The stock had previously closed at $301.66.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on GEV shares. BMO Capital Markets increased their target price on GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Evercore ISI increased their price objective on GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Mizuho upped their price target on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Finally, Morgan Stanley raised their price objective on shares of GE Vernova from $256.00 to $301.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. 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. According to data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Performance

The business has a 50-day moving average of $246.45 and a 200 day moving average of $195.99.

Hedge Funds Weigh In On GE Vernova

A number of institutional investors have recently modified their holdings of the company. Castleview Partners LLC purchased a new stake in shares of GE Vernova in the third quarter valued at $28,000. Covestor Ltd lifted its holdings in shares of GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after acquiring an additional 46 shares during the period. Deseret Mutual Benefit Administrators acquired a new stake in shares of GE Vernova in the second quarter worth approximately $25,000. Trifecta Capital Advisors LLC purchased a new stake in GE Vernova in the second quarter valued at approximately $25,000. Finally, Meeder Asset Management Inc. acquired a new position in GE Vernova during the second quarter worth approximately $25,000.

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.