GE Vernova (NYSE:GEV) Stock Price Up 4.7% – Here’s What Happened

GE Vernova Inc. (NYSE:GEV) rose 4.7% during trading on Tuesday . The company traded as high as $309.33 and last traded at $309.30. Approximately 687,681 shares changed hands during trading, a decline of 80% from the average daily volume of 3,522,292 shares. The stock had previously closed at $295.46.

Analyst Ratings Changes

GEV has been the subject of a number of research reports. BMO Capital Markets upped their price objective on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research note on Monday, October 14th. Truist Financial lifted their price objective on GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Bank of America boosted their target price on GE Vernova from $300.00 to $320.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Oppenheimer began coverage on GE Vernova in a research report on Thursday, September 26th. They set a “market perform” rating on the stock. Finally, Mizuho increased their price objective on GE Vernova from $186.00 to $208.00 and gave the company an “outperform” rating in a research note on Friday, July 26th. Seven research analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, GE Vernova presently has a consensus rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Price Performance

The stock’s 50 day moving average is $248.71 and its 200-day moving average is $197.54.

Institutional Investors Weigh In On GE Vernova

Several large investors have recently bought and sold shares of GEV. Aspire Private Capital LLC bought a new stake in shares of GE Vernova in the second quarter worth approximately $40,000. Legal & General Group Plc purchased a new stake in GE Vernova in the second quarter worth about $293,699,000. Central Pacific Bank Trust Division lifted its position in shares of GE Vernova by 1,242.9% during the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after buying an additional 2,175 shares in the last quarter. Concourse Financial Group Securities Inc. grew its stake in shares of GE Vernova by 75.6% during the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock valued at $1,264,000 after acquiring an additional 2,134 shares during the period. Finally, Park Avenue Securities LLC purchased a new stake in GE Vernova in the 3rd quarter worth approximately $2,042,000.

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.