GE Vernova (NYSE:GEV) Shares Gap Down – Time to Sell?

GE Vernova Inc. (NYSE:GEV)’s share price gapped down prior to trading on Wednesday . The stock had previously closed at $256.53, but opened at $251.00. GE Vernova shares last traded at $253.37, with a volume of 587,267 shares changing hands.

Wall Street Analysts Forecast Growth

GEV has been the topic of a number of research analyst reports. BMO Capital Markets began coverage on shares of GE Vernova in a report on Friday, September 13th. They set an “outperform” rating and a $245.00 price objective on the stock. Truist Financial assumed coverage on shares of GE Vernova in a research report on Thursday, September 26th. They issued a “buy” rating and a $300.00 price objective for the company. Citigroup began coverage on GE Vernova in a report on Tuesday, June 11th. They set a “neutral” rating and a $183.00 price objective on the stock. Raymond James cut GE Vernova from an “outperform” rating to a “market perform” rating in a research note on Wednesday. Finally, William Blair started coverage on GE Vernova in a research note on Thursday, August 29th. They set an “outperform” rating on the stock. Five equities research analysts have rated the stock with a hold rating, seventeen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $232.98.

GE Vernova Stock Performance

The stock has a fifty day simple moving average of $203.50.

GE Vernova (NYSE:GEV) last posted its earnings results on Wednesday, July 24th. The company reported $0.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.69 by $0.02. The business had revenue of $8.20 billion during the quarter, compared to analyst estimates of $8.42 billion. On average, equities research analysts expect that GE Vernova Inc. will post 2.83 EPS for the current fiscal year.

Institutional Trading of GE Vernova

Hedge funds have recently bought and sold shares of the stock. Deseret Mutual Benefit Administrators bought a new stake in shares of GE Vernova during the second quarter worth $25,000. Trifecta Capital Advisors LLC acquired a new position in GE Vernova in the 2nd quarter worth $25,000. Meeder Asset Management Inc. bought a new position in GE Vernova during the 2nd quarter worth about $25,000. Global Trust Asset Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $26,000. Finally, Timber Creek Capital Management LLC acquired a new stake in shares of GE Vernova in the 2nd quarter valued at about $27,000.

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.