GE Vernova (NYSE:GEV) Shares Down 3.9% – Here’s What Happened

Shares of GE Vernova Inc. (NYSE:GEV) traded down 3.9% on Monday . The stock traded as low as $334.72 and last traded at $335.50. 879,478 shares were traded during trading, a decline of 75% from the average session volume of 3,475,136 shares. The stock had previously closed at $349.16.

Analyst Upgrades and Downgrades

GEV has been the subject of a number of recent research reports. BMO Capital Markets boosted their target price on shares of GE Vernova from $245.00 to $288.00 and gave the company an “outperform” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft assumed coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price objective for the company. Hsbc Global Res cut shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a report on Friday, October 4th. JPMorgan Chase & Co. boosted their price target on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Finally, William Blair began coverage on GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Seven equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $274.16.

GE Vernova Stock Down 5.8 %

The stock has a 50 day moving average price of $286.37 and a 200 day moving average price of $215.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in GEV. Deseret Mutual Benefit Administrators acquired a new position in GE Vernova in the 2nd quarter valued at approximately $25,000. Trifecta Capital Advisors LLC bought a new stake in shares of GE Vernova in the second quarter worth $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova during the 2nd quarter worth $25,000. Global Trust Asset Management LLC bought a new position in GE Vernova during the 2nd quarter worth $26,000. Finally, Timber Creek Capital Management LLC acquired a new position in GE Vernova during the 2nd quarter worth about $27,000.

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.