GE Vernova (NYSE:GEV) Shares Up 1.9% on Analyst Upgrade
GE Vernova (NYSE:GEV) shares rose 1.9% following an upgrade from Royal Bank of Canada, which raised its price target. The stock traded at a high of $X.70 and closed at $X.28, with a significant drop in trading volume. Other analysts have also adjusted their ratings, with a consensus rating of "Moderate Buy" and a price target of $X.16. The company operates in energy generation across various segments, including Power, Wind, and Electrification.
GE Vernova Inc. (NYSE:GEV - Get Free Report) shares shot up 1.9% on Tuesday after Royal Bank of Canada raised their price target on the stock from $285.00 to $376.00. Royal Bank of Canada currently has an outperform rating on the stock. GE Vernova traded as high as $337.70 and last traded at $335.28. 705,940 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 3,490,342 shares. The stock had previously closed at $328.98.
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GEV has been the subject of several other research reports. HSBC restated a "hold" rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research note on Friday, October 4th. Barclays upped their price target on shares of GE Vernova from $300.00 to $320.00 and gave the company an "overweight" rating in a research note on Thursday, October 24th. Evercore ISI lifted their price objective on shares of GE Vernova from $300.00 to $323.00 and gave the company an "outperform" rating in a research note on Thursday, October 24th. Truist Financial raised their price target on GE Vernova from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Finally, Hsbc Global Res lowered GE Vernova from a "strong-buy" rating to a "hold" rating in a research note on Friday, October 4th. Seven 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 stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $274.16.
Read Our Latest Research Report on GE Vernova
Institutional Trading of GE Vernova
- Get in on GE Vernova: Bank of America and Jefferies Are Bullish
Hedge funds and other institutional investors have recently bought and sold shares of the company. Castleview Partners LLC bought a new stake in shares of GE Vernova in the 3rd quarter worth approximately $28,000. Covestor Ltd raised its position in GE Vernova by 61.3% in the 3rd quarter. Covestor Ltd now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 46 shares during the period. Darwin Wealth Management LLC purchased a new position in GE Vernova in the 3rd quarter worth $31,000. Prestige Wealth Management Group LLC lifted its stake in GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company's stock worth $31,000 after purchasing an additional 77 shares during the last quarter. Finally, Planning Capital Management Corp boosted its position in GE Vernova by 1,000.0% during the third quarter. Planning Capital Management Corp now owns 143 shares of the company's stock valued at $36,000 after buying an additional 130 shares during the period.
GE Vernova Stock Performance
The stock has a 50 day moving average price of $288.35 and a 200-day moving average price of $216.55.
GE Vernova Company Profile
(Get Free Report)- MarketBeat Week in Review – 9/9 - 9/13
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.
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