GE Vernova (NYSE:GEV) Trading 2.8% Higher – Still a Buy?

GE Vernova Inc. (NYSE:GEV)’s share price traded up 2.8% during trading on Wednesday . The stock traded as high as $331.36 and last traded at $324.50. 1,433,006 shares were traded during mid-day trading, a decline of 59% from the average session volume of 3,528,010 shares. The stock had previously closed at $315.77.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Evercore ISI upped their price objective on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Royal Bank of Canada upped their price objective on GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. JPMorgan Chase & Co. increased their price target on GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Finally, HSBC reissued a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Seven equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $261.40.

GE Vernova Stock Up 6.5 %

The business has a 50 day simple moving average of $254.36 and a 200 day simple moving average of $199.77.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GEV. Castleview Partners LLC purchased a new position in shares of GE Vernova in the third quarter worth about $28,000. Covestor Ltd raised its stake in shares of GE Vernova by 61.3% in the third quarter. Covestor Ltd now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 46 shares during the last quarter. Planning Capital Management Corp raised its stake in shares of GE Vernova by 1,000.0% in 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 last quarter. Deseret Mutual Benefit Administrators purchased a new position in shares of GE Vernova in the second quarter worth about $25,000. Finally, Trifecta Capital Advisors LLC purchased a new position in shares of GE Vernova in the second quarter worth 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.