GE Vernova (NYSE:GEV) Shares Down 1.3% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) were down 1.3% on Thursday . The company traded as low as $328.82 and last traded at $328.92. Approximately 538,526 shares changed hands during trading, a decline of 85% from the average daily volume of 3,515,877 shares. The stock had previously closed at $333.26.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on GEV. Bank of America increased their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research report on Thursday, October 24th. Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. JPMorgan Chase & Co. raised their target price on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, October 24th. HSBC reaffirmed a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Finally, Raymond James downgraded shares of GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, GE Vernova has a consensus rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Trading Down 1.5 %

The firm has a fifty day moving average price of $268.31 and a 200 day moving average price of $206.42.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in GEV. Waverton Investment Management Ltd boosted its holdings in shares of 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 during the period. Hanlon Investment Management Inc. purchased a new stake in GE Vernova in the 3rd quarter worth approximately $1,101,000. Aspire Private Capital LLC acquired a new stake in shares of GE Vernova during the 2nd quarter valued at $40,000. Legal & General Group Plc purchased a new position in shares of GE Vernova during the 2nd quarter valued at $293,699,000. Finally, Fractal Investments LLC acquired a new position in shares of GE Vernova in the third quarter worth $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.