GE Vernova (NYSE:GEV) Stock Price Down 1.1% – Here’s Why

GE Vernova Inc. (NYSE:GEV) shares dropped 1.1% during trading on Thursday . The company traded as low as $329.63 and last traded at $335.33. Approximately 2,318,182 shares were traded during trading, a decline of 34% from the average daily volume of 3,491,655 shares. The stock had previously closed at $338.89.

Analyst Ratings Changes

Several analysts have weighed in on GEV shares. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a report on Wednesday, October 2nd. Barclays boosted their price target on shares of GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. HSBC restated a “hold” rating and set a $255.00 target price (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Oppenheimer began coverage on shares of GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Finally, Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, GE Vernova presently has an average rating of “Moderate Buy” and an average price target of $274.16.

GE Vernova Stock Down 1.1 %

The stock has a 50-day simple moving average of $292.35 and a 200 day simple moving average of $218.58.

Institutional Investors Weigh In On GE Vernova

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Waverton Investment Management Ltd raised its holdings in GE Vernova by 10.0% during the third quarter. Waverton Investment Management Ltd now owns 727,704 shares of the company’s stock worth $185,459,000 after purchasing an additional 66,455 shares in the last quarter. Hanlon Investment Management Inc. purchased a new stake in GE Vernova during the 3rd quarter worth $1,101,000. Atria Investments Inc boosted its position in shares of GE Vernova by 127.0% in the third quarter. Atria Investments Inc now owns 5,088 shares of the company’s stock worth $1,297,000 after buying an additional 2,847 shares during the period. Aspire Private Capital LLC purchased a new position in GE Vernova in the 2nd quarter worth approximately $40,000. Finally, Fractal Investments LLC acquired a new stake in GE Vernova during the 3rd quarter valued at $1,530,000.

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.