GE Vernova (NYSE:GEV) Trading Down 2.5% – Time to Sell?

GE Vernova Inc. (NYSE:GEV)’s stock price traded down 2.5% during trading on Tuesday . The stock traded as low as $329.00 and last traded at $329.16. 610,824 shares were traded during trading, a decline of 82% from the average session volume of 3,452,343 shares. The stock had previously closed at $337.54.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Morgan Stanley upped their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a report on Friday, November 15th. HSBC reaffirmed a “hold” rating and issued a $255.00 price objective (up previously from $240.00) on shares of GE Vernova in a report on Friday, October 4th. Deutsche Bank Aktiengesellschaft began coverage on shares of GE Vernova in a report on Monday, October 21st. They issued a “buy” rating and a $354.00 price target for the company. Hsbc Global Res lowered shares of GE Vernova from a “strong-buy” rating to a “hold” rating in a research note on Friday, October 4th. Finally, Evercore ISI boosted their price objective on GE Vernova from $300.00 to $323.00 and gave the company an “outperform” rating in a research report on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $275.34.

GE Vernova Stock Performance

The firm has a 50-day moving average of $295.95 and a two-hundred day moving average of $221.35.

Hedge Funds Weigh In On GE Vernova

Several large investors have recently bought and sold shares of the stock. FMR LLC lifted its stake in shares of GE Vernova by 2.5% in the third quarter. FMR LLC now owns 24,047,678 shares of the company’s stock valued at $6,131,677,000 after buying an additional 584,208 shares during the period. State Street Corp lifted its position in GE Vernova by 1.1% in the third quarter. State Street Corp now owns 10,434,917 shares of the company’s stock worth $2,660,695,000 after purchasing an additional 118,184 shares during the period. Mountaineer Partners Management LLC acquired a new stake in GE Vernova during the third quarter worth $2,507,296,000. Geode Capital Management LLC increased its holdings in GE Vernova by 1.5% in the 3rd quarter. Geode Capital Management LLC now owns 5,594,223 shares of the company’s stock valued at $1,420,763,000 after buying an additional 80,479 shares during the period. Finally, Newport Trust Company LLC acquired a new position in shares of GE Vernova in the 2nd quarter valued at $650,140,000.

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.