GE Vernova (NYSE:GEV) Shares Up 3% – Here’s What Happened

GE Vernova Inc. (NYSE:GEVGet Free Report) rose 3% during trading on Friday . The company traded as high as $311.53 and last traded at $310.65. Approximately 746,272 shares changed hands during trading, a decline of 79% from the average daily volume of 3,538,953 shares. The stock had previously closed at $301.66.

Wall Street Analyst Weigh In

GEV has been the subject of several research analyst reports. Hsbc Global Res downgraded GE Vernova from a “strong-buy” rating to a “hold” rating in a research report on Friday, October 4th. Barclays upped their price target on shares of GE Vernova from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, October 24th. Guggenheim assumed coverage on shares of GE Vernova in a report on Tuesday, September 24th. They set a “buy” rating and a $300.00 price objective on the stock. The Goldman Sachs Group boosted their target price on shares of GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Finally, Royal Bank of Canada increased their price target on shares of GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a research note on Thursday, October 24th. Seven analysts have rated the stock with a hold rating, seventeen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $261.40.

Check Out Our Latest Research Report on GE Vernova

GE Vernova Trading Up 1.1 %

The stock’s 50-day simple moving average is $244.09 and its 200 day simple moving average is $194.36.

Institutional Trading of GE Vernova

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Aspire Private Capital LLC bought a new stake in shares of GE Vernova during the second quarter worth approximately $40,000. Legal & General Group Plc bought a new stake in GE Vernova in the 2nd quarter valued at $293,699,000. Central Pacific Bank Trust Division grew its holdings in GE Vernova by 1,242.9% in the 3rd quarter. Central Pacific Bank Trust Division now owns 2,350 shares of the company’s stock valued at $599,000 after buying an additional 2,175 shares in the last quarter. Concourse Financial Group Securities Inc. grew its holdings in GE Vernova by 75.6% in the 3rd quarter. Concourse Financial Group Securities Inc. now owns 4,958 shares of the company’s stock valued at $1,264,000 after buying an additional 2,134 shares in the last quarter. Finally, Park Avenue Securities LLC bought a new position in GE Vernova during the 3rd quarter worth $2,042,000.

GE Vernova Company Profile

(Get Free Report)

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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