GE Vernova (NYSE:GEV) Shares Up 0.7% – Should You Buy?

GE Vernova Inc. (NYSE:GEV) rose 0.7% on Friday . The stock traded as high as $342.79 and last traded at $339.26. Approximately 500,065 shares traded hands during trading, a decline of 86% from the average daily volume of 3,520,170 shares. The stock had previously closed at $336.78.

Analyst Ratings Changes

A number of research analysts have recently commented on GEV shares. HSBC reaffirmed a “hold” rating and set a $255.00 price target (up previously from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Jefferies Financial Group increased their target price on shares of GE Vernova from $293.00 to $336.00 and gave the stock a “buy” rating in a research report on Friday, October 18th. The Goldman Sachs Group boosted their price target on shares of GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada boosted their target price on shares of GE Vernova from $262.00 to $285.00 and gave the company an “outperform” rating in a report on Thursday, October 24th. Finally, JPMorgan Chase & Co. boosted their price objective on GE Vernova from $285.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, October 24th. Seven equities research analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, GE Vernova currently has a consensus rating of “Moderate Buy” and a consensus target price of $261.40.

GE Vernova Stock Up 1.3 %

The company’s fifty day simple moving average is $254.36 and its 200 day simple moving average is $199.77.

Institutional Inflows and Outflows

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

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.