GE Vernova (NYSE:GEV) Stock Price Up 0.5% – What’s Next?

GE Vernova Inc. (NYSE:GEV) was up 0.5% during mid-day trading on Thursday . The stock traded as high as $339.52 and last traded at $337.93. Approximately 744,589 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 3,529,741 shares. The stock had previously closed at $336.30.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on GEV shares. The Goldman Sachs Group boosted their price objective on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Oppenheimer started coverage on GE Vernova in a report on Thursday, September 26th. They issued a “market perform” rating for the company. Royal Bank of Canada lifted their price objective 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. Truist Financial upped their target price on shares of GE Vernova from $300.00 to $325.00 and gave the company a “buy” rating in a research note on Thursday, October 24th. Finally, JPMorgan Chase & Co. lifted their price target on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, October 24th. Seven 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 MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $261.40.

GE Vernova Stock Performance

The stock has a 50-day moving average of $260.05 and a 200-day moving average of $202.14.

Hedge Funds Weigh In On GE Vernova

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