GE Vernova (NYSE:GEV) Trading Down 0.6% – Should You Sell?

GE Vernova Inc. (NYSE:GEV)’s share price traded down 0.6% on Wednesday . The stock traded as low as $294.90 and last traded at $297.11. 479,239 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 3,553,454 shares. The stock had previously closed at $298.77.

Wall Street Analysts Forecast Growth

A number of research analysts have recently issued reports on GEV shares. Guggenheim initiated coverage on GE Vernova in a research note on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective on the stock. Evercore ISI raised their price target on GE Vernova from $300.00 to $323.00 and gave the stock an “outperform” rating in a research report on Thursday, October 24th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. Truist Financial raised their target price on shares of GE Vernova from $300.00 to $325.00 and gave the stock a “buy” rating in a report on Thursday, October 24th. Finally, William Blair assumed coverage on shares of GE Vernova in a report on Thursday, August 29th. They set an “outperform” rating for the company. Seven 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’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Stock Performance

The stock has a 50-day moving average of $239.51 and a two-hundred day moving average of $192.87.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently modified their holdings of the stock. Newport Trust Company LLC bought a new stake in GE Vernova during the 2nd quarter valued at about $650,140,000. Bank of New York Mellon Corp bought a new stake in shares of GE Vernova during the second quarter valued at approximately $537,674,000. Price T Rowe Associates Inc. MD purchased a new position in GE Vernova in the 1st quarter worth approximately $367,474,000. Marshall Wace LLP bought a new position in GE Vernova in the 2nd quarter valued at approximately $399,770,000. Finally, Legal & General Group Plc purchased a new stake in GE Vernova during the 2nd quarter valued at $293,699,000.

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.