GE Vernova (NYSE:GEV) Stock Price Down 1.1% - Here's Why

Shares of GE Vernova Inc. (NYSE:GEV) dropped by 1.1% during trading on Thursday. The stock reached a low of $329.63 before closing at $335.33. In total, approximately 2,318,182 shares were traded, indicating a significant decrease of 34% from the average daily volume of 3,491,655 shares. The previous closing price was $338.89.

Analyst Ratings Changes

Several analysts have recently provided updates regarding GEV shares. On October 2nd, Raymond James downgraded GE Vernova from an "outperform" rating to a "market perform" rating. Barclays increased their price target for the stock from $300.00 to $320.00 and assigned an "overweight" rating in a note published on October 24th. HSBC maintained a "hold" rating but raised their target price from $240.00 to $255.00 in a report released on October 4th. Additionally, Oppenheimer began coverage of GE Vernova with a "market perform" rating on September 26th, while Hsbc Global Res downgraded their rating from "strong-buy" to "hold" on October 4th. Overall, seven analysts have rated the stock with a hold recommendation, eighteen have issued buy ratings, and one has given a strong buy rating. According to MarketBeat, the average rating for GE Vernova is "Moderate Buy," with a price target of $274.16.

GE Vernova Stock Down 1.1%

The stock has a 50-day simple moving average of $292.35 and a 200-day simple moving average of $218.58.

Institutional Investors Weigh In On GE Vernova

Recently, a number of institutional investors and hedge funds have bought and sold shares in GE Vernova. Waverton Investment Management Ltd increased its holdings by 10.0% during the third quarter, acquiring an additional 66,455 shares for a total of 727,704 shares valued at $185,459,000. Hanlon Investment Management Inc. purchased a new stake worth $1,101,000 in the third quarter. Additionally, Atria Investments Inc. boosted its position by 127.0%, now owning 5,088 shares valued at $1,297,000 after acquiring an additional 2,847 shares. Aspire Private Capital LLC also entered a new position during the second quarter, and Fractal Investments LLC made a fresh acquisition valued at $1,530,000 in the third quarter.

GE Vernova Company Profile

GE Vernova LLC is an energy business that generates electricity across three primary segments: Power, Wind, and Electrification. The Power segment is involved in generating and selling electricity through various means, such as hydro, gas, nuclear, and steam power. The Wind segment focuses on the manufacturing and sale of wind turbine blades, while the Electrification segment provides grid solutions, power conversion, and solar storage solutions.

Conclusion

For prospective investors considering GE Vernova, it's worth noting that, despite the current "Moderate Buy" rating among analysts, many top-rated financial experts recommend alternative stocks that may offer better opportunities.

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