GE Vernova (NYSE:GEV) Trading 0.7% Higher – What’s Next?

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

Analysts Set New Price Targets

Several brokerages have weighed in on GEV. JPMorgan Chase & Co. upped their price objective 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. Truist Financial upped 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. Mizuho upped their price objective on shares of GE Vernova from $186.00 to $208.00 and gave the stock an “outperform” rating in a research note on Friday, July 26th. Oppenheimer began coverage on shares of GE Vernova in a research note on Thursday, September 26th. They set a “market perform” rating on the stock. Finally, Bank of America upped their price objective on shares of GE Vernova from $300.00 to $320.00 and gave the stock a “buy” rating in a research note on Thursday, October 24th. Seven investment analysts have rated the stock with a hold rating, seventeen have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $261.40.

GE Vernova Price Performance

The firm’s 50-day moving average is $241.78 and its 200 day moving average is $193.61.

Institutional Investors Weigh In On GE Vernova

Several institutional investors have recently added to or reduced their stakes in GEV. Deseret Mutual Benefit Administrators bought a new stake in GE Vernova in the 2nd quarter valued at $25,000. Trifecta Capital Advisors LLC acquired a new stake in GE Vernova in the 2nd quarter valued at $25,000. Meeder Asset Management Inc. acquired a new stake in GE Vernova in the 2nd quarter valued at $25,000. Global Trust Asset Management LLC acquired a new stake in GE Vernova in the 2nd quarter valued at $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in GE Vernova in the 2nd quarter valued at $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.