GE Vernova (NYSE:GEV) Shares Down 2.5% – Should You Sell?

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

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on the stock. BMO Capital Markets boosted their target price on shares of GE Vernova from $245.00 to $288.00 and gave the stock an “outperform” rating in a research note on Monday, October 14th. Guggenheim assumed coverage on GE Vernova in a research report on Tuesday, September 24th. They set a “buy” rating and a $300.00 target price for the company. William Blair initiated coverage on GE Vernova in a research report on Thursday, August 29th. They issued an “outperform” rating for the company. JPMorgan Chase & Co. upped their target price on shares of GE Vernova from $330.00 to $356.00 and gave the company an “overweight” rating in a research report on Tuesday. Finally, Wells Fargo & Company initiated coverage on shares of GE Vernova in a research report on Thursday, November 21st. They set an “overweight” rating and a $385.00 price target for the company. Seven analysts have rated the stock with a hold rating, eighteen have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $275.34.

GE Vernova Stock Down 1.9 %

The stock’s fifty day simple moving average is $295.95 and its 200-day simple moving average is $221.35.

Institutional Inflows and Outflows

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

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.