GE Vernova (NYSE:GEV) Trading 0.7% Higher - Still a Buy?

GE Vernova Inc. (NYSE:GEV - Get Free Report) shares shot up 0.7% on Tuesday . The company traded as high as $291.81 and last traded at $291.29. 613,634 shares changed hands during trading, a decline of 83% from the average session volume of 3,563,656 shares. The stock had previously closed at $289.23.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on GEV. Truist Financial lifted their target price on GE Vernova from $300.00 to $325.00 and gave the stock a "buy" rating in a report on Thursday, October 24th. Redburn Atlantic began coverage on GE Vernova in a report on Tuesday, July 2nd. They set a "neutral" rating and a $178.00 target price for the company. Barclays lifted their target price on GE Vernova from $300.00 to $320.00 and gave the stock an "overweight" rating in a report on Thursday, October 24th. Oppenheimer initiated coverage on GE Vernova in a research note on Thursday, September 26th. They issued a "market perform" rating for the company. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on GE Vernova in a research note on Monday, October 21st. They issued a "buy" rating and a $354.00 price target for the company. Seven research 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 stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $261.40.

GE Vernova Stock Up 3.3 %

The firm has a fifty day simple moving average of $237.21 and a two-hundred day simple moving average of $191.71.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. SteelPeak Wealth LLC raised its stake in shares of GE Vernova by 2.5% in the third quarter. SteelPeak Wealth LLC now owns 1,569 shares of the company's stock worth $400,000 after purchasing an additional 38 shares during the last quarter. Global Retirement Partners LLC grew its holdings in GE Vernova by 0.9% during the third quarter. Global Retirement Partners LLC now owns 4,507 shares of the company's stock valued at $1,149,000 after purchasing an additional 40 shares during the period. Whittier Trust Co. grew its holdings in GE Vernova by 1.9% during the third quarter. Whittier Trust Co. now owns 2,106 shares of the company's stock valued at $537,000 after purchasing an additional 40 shares during the period. Rosenberg Matthew Hamilton boosted its stake in shares of GE Vernova by 30.3% in the third quarter. Rosenberg Matthew Hamilton now owns 185 shares of the company's stock worth $47,000 after acquiring an additional 43 shares during the period. Finally, First Bancorp Inc ME boosted its stake in shares of GE Vernova by 3.1% in the third quarter. First Bancorp Inc ME now owns 1,450 shares of the company's stock worth $370,000 after acquiring an additional 44 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.