GE Vernova (NYSE:GEV) Shares Up 0.7% - What to Know Before Buying

GE Vernova Inc. (NYSE:GEV) saw a modest increase of 0.7% in its share price on Friday, trading at a peak of $342.79 before settling at $339.26. In total, around 500,065 shares exchanged hands, representing a significant drop of 86% from the average daily trading volume of 3,520,170 shares. The stock had previously closed at $336.78.

Recent Analyst Ratings

Several analysts have recently evaluated GEV shares. On October 4th, HSBC maintained a "hold" rating while raising their price target for GE Vernova from $240.00 to $255.00. Jefferies Financial Group took a more bullish stance, increasing their target price from $293.00 to $336.00 with a "buy" rating issued on October 18th. Goldman Sachs also raised their price target significantly from $220.00 to $308.00, granting the stock a "buy" rating on October 10th. Furthermore, Royal Bank of Canada adjusted their target from $262.00 to $285.00, rating it "outperform" on October 24th. Finally, JPMorgan Chase & Co. raised their price objective from $285.00 to $330.00 and gave the stock an "overweight" rating on the same day. Overall, out of the analysts covering the stock, seven have a hold rating, seventeen a buy rating, and one a strong buy, resulting in a consensus rating of "Moderate Buy" with an average target price of $261.40.

Stock Price Movements

The GE Vernova stock's fifty-day simple moving average stands at $254.36, while the 200-day simple moving average is $199.77, indicating a trend of increasing price performance.

Institutional Activity

Recently, various institutional investors have altered their positions concerning GEV shares. Notable transactions include Deseret Mutual Benefit Administrators, Trifecta Capital Advisors LLC, and Meeder Asset Management Inc., each acquiring new stakes valued around $25,000 during the second quarter. Global Trust Asset Management LLC and Timber Creek Capital Management LLC also bought positions in GE Vernova for amounts slightly higher than these. Such interest from institutional investors may hint at growing confidence in the company's potential.

Overview of GE Vernova

GE Vernova LLC operates in the energy sector, generating electricity across multiple segments. These include Power, which encompasses hydro, gas, nuclear, and steam power generation; Wind, focusing on the manufacture and sale of wind turbine blades; and Electrification, which offers grid solutions, power conversion, solar, and storage technologies.

Should You Invest in GE Vernova?

Before making an investment decision regarding GE Vernova, it is important for investors to note that while the stock currently holds a "Moderate Buy" rating, there are other stocks that some top analysts suggest may present better opportunities. To diversify investments effectively, researching alternative stocks could be beneficial.

GEV, Stocks, Investing