GE Vernova (NYSE:GEV) Trading Up 1.9% After Analyst Upgrade

GE Vernova Inc. (NYSE:GEV)’s share price shot up 1.9% during mid-day trading on Tuesday after Royal Bank of Canada raised their price target on the stock from $285.00 to $376.00. Royal Bank of Canada currently has an outperform rating on the stock. GE Vernova traded as high as $337.70 and last traded at $335.28. 705,940 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,490,342 shares. The stock had previously closed at $328.98.

GEV has been the topic of a number of other research reports. JPMorgan Chase & Co. raised their price target on shares of GE Vernova from $285.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, October 24th. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday, October 2nd. The Goldman Sachs Group upped their price target on GE Vernova from $220.00 to $308.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. HSBC reiterated a “hold” rating and issued a $255.00 price objective (up from $240.00) on shares of GE Vernova in a research report on Friday, October 4th. Finally, Morgan Stanley raised their price target on GE Vernova from $301.00 to $367.00 and gave the stock an “overweight” rating in a research note on Friday, November 15th. Seven research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $274.16.

Hedge Funds Weigh In On GE Vernova

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

GE Vernova Trading Up 1.9 %

The company’s 50-day moving average is $288.35 and its two-hundred day moving average is $216.55.

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.