GE Vernova (NYSE:GEV) Trading Up 4.7% - Time to Buy?

GE Vernova Inc. (NYSE:GEV - Get Free Report) shot up 4.7% during mid-day trading on Wednesday . The company traded as high as $343.64 and last traded at $339.05. 1,319,840 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 3,524,327 shares. The stock had previously closed at $323.71.

Analyst Ratings Changes

A number of brokerages recently issued reports on GEV. Mizuho boosted their price target on GE Vernova from $186.00 to $208.00 and gave the company an "outperform" rating in a report on Friday, July 26th. BMO Capital Markets boosted their price target on GE Vernova from $245.00 to $288.00 and gave the company an "outperform" rating in a report on Monday, October 14th. HSBC reiterated a "hold" rating and issued a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Truist Financial boosted their price objective on shares of GE Vernova from $300.00 to $325.00 and gave the stock a "buy" rating in a research note on Thursday, October 24th. Finally, The Goldman Sachs Group boosted their price objective 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. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, GE Vernova currently has an average rating of "Moderate Buy" and an average price target of $261.40.

GE Vernova Stock Performance

The firm's 50-day moving average is $265.64 and its two-hundred day moving average is $205.53.

Institutional Trading of GE Vernova

A number of hedge funds have recently bought and sold shares of GEV. Pittenger & Anderson Inc. increased its holdings in shares of GE Vernova by 28.0% during the 3rd quarter. Pittenger & Anderson Inc. now owns 160 shares of the company's stock worth $41,000 after buying an additional 35 shares during the last quarter. SteelPeak Wealth LLC increased its holdings in shares of GE Vernova by 2.5% during the 3rd quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock worth $400,000 after buying an additional 38 shares during the last quarter. Global Retirement Partners LLC boosted its position in shares of GE Vernova by 0.9% during the 3rd quarter. Global Retirement Partners LLC now owns 4,507 shares of the company's stock worth $1,149,000 after purchasing an additional 40 shares during the period. Whittier Trust Co. boosted its position in shares of GE Vernova by 1.9% during the 3rd quarter. Whittier Trust Co. now owns 2,106 shares of the company's stock worth $537,000 after purchasing an additional 40 shares during the period. Finally, Rosenberg Matthew Hamilton boosted its position in shares of GE Vernova by 30.3% during the 3rd quarter. Rosenberg Matthew Hamilton now owns 185 shares of the company's stock worth $47,000 after purchasing an additional 43 shares during the period.

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.

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