GE Vernova (NYSE:GEV) Shares Up 7.5%

Shares of GE Vernova Inc. (NYSE:GEV) shot up 7.5% during mid-day trading on Wednesday . The company traded as high as $176.50 and last traded at $174.86. 174,460 shares were traded during trading, a decline of 96% from the average session volume of 4,132,265 shares. The stock had previously closed at $162.70.

Analysts Set New Price Targets

A number of research firms have issued reports on GEV. Evercore ISI upped their price target on shares of GE Vernova from $174.00 to $202.00 and gave the company an “outperform” rating in a report on Thursday, July 25th. Royal Bank of Canada restated an “outperform” rating and set a $180.00 price target on shares of GE Vernova in a report on Monday, July 22nd. Melius began coverage on shares of GE Vernova in a report on Monday, April 22nd. They set a “hold” rating and a $147.00 price target for the company. Morgan Stanley began coverage on shares of GE Vernova in a report on Thursday, May 23rd. They set an “equal weight” rating and a $167.00 price target for the company. Finally, JPMorgan Chase & Co. upped their price target on shares of GE Vernova from $195.00 to $216.00 and gave the company an “overweight” rating in a report on Thursday, July 25th. Five equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, GE Vernova has an average rating of “Moderate Buy” and a consensus price target of $184.25.

GE Vernova Stock Up 9.6 %

The firm has a fifty day moving average of $171.91.

Institutional Investors Weigh In On GE Vernova

A number of hedge funds have recently made changes to their positions in GEV. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA lifted its position in GE Vernova by 1.7% during the 2nd quarter. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA now owns 3,555 shares of the company’s stock valued at $650,000 after purchasing an additional 61 shares during the period. Wedmont Private Capital boosted its holdings in shares of GE Vernova by 3.2% during the 2nd quarter. Wedmont Private Capital now owns 3,533 shares of the company’s stock worth $638,000 after buying an additional 109 shares in the last quarter. Global Trust Asset Management LLC acquired a new position in shares of GE Vernova during the second quarter worth approximately $26,000. Gradient Investments LLC purchased a new stake in GE Vernova in the 2nd quarter valued at $27,000. Finally, Timber Creek Capital Management LLC purchased a new stake in GE Vernova in the 2nd quarter valued at $27,000.

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.