GE Vernova (NYSE:GEV) Stock Price Down 3.9% – Time to Sell?

Shares of GE Vernova Inc. (NYSE:GEV) dropped 3.9% during trading on Monday . The stock traded as low as $334.72 and last traded at $335.50. Approximately 879,478 shares changed hands during mid-day trading, a decline of 75% from the average daily volume of 3,475,136 shares. The stock had previously closed at $349.16.

Analyst Ratings Changes

GEV has been the topic of a number of recent research reports. Wells Fargo & Company started coverage on shares of GE Vernova in a research note on Thursday, November 21st. They set an “overweight” rating and a $385.00 price target on the stock. The Goldman Sachs Group boosted their target price on GE Vernova from $220.00 to $308.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Truist Financial upped their price objective 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. Guggenheim began coverage on GE Vernova in a report on Tuesday, September 24th. They issued a “buy” rating and a $300.00 price target for the company. Finally, Royal Bank of Canada upped their price objective on shares of GE Vernova from $285.00 to $376.00 and gave the company an “outperform” rating in a research note on Monday. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $274.16.

GE Vernova Price Performance

The business’s 50-day simple moving average is $290.36 and its two-hundred day simple moving average is $217.76.

Institutional Trading of GE Vernova

Several hedge funds have recently modified their holdings of GEV. Castleview Partners LLC acquired a new position in shares of GE Vernova in the 3rd quarter valued at about $28,000. Covestor Ltd lifted its position in GE Vernova by 61.3% during the 3rd quarter. Covestor Ltd now owns 121 shares of the company’s stock valued at $31,000 after acquiring an additional 46 shares during the period. Darwin Wealth Management LLC bought a new stake in shares of GE Vernova in the third quarter worth approximately $31,000. Prestige Wealth Management Group LLC increased its stake in shares of GE Vernova by 175.0% in the third quarter. Prestige Wealth Management Group LLC now owns 121 shares of the company’s stock worth $31,000 after purchasing an additional 77 shares in the last quarter. Finally, Planning Capital Management Corp grew its stake in shares of GE Vernova by 1,000.0% in the 3rd quarter. Planning Capital Management Corp now owns 143 shares of the company’s stock worth $36,000 after buying an additional 130 shares in the last quarter.

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.