General Electric Company (NYSE:GE) is on track to increase its presence in rapidly rising Russian energy market Technology to help meet Russia’s growing need for cogeneration JV. To perform this task, it has joined Russian partners INTER RAO UES and UEC Rybinsk facility to begin producing gas turbines in Q2’2014.
They have recently held a groundbreaking ceremony for the Russian Gas Turbines LLC Manufacturing Facility. Jeff Immelt, GE Chairman and CEO, along with Yuriy Sharov, Member of INTER RAO UES Management Board and Vladimir Artyakov, Deputy General Director of the RUSSIAN TECHNOLOGIES State Corporation laid the foundation stone.
The new plant is expected to cost $170 million and will manufacture, sell and service 77 MW highly efficient, low-emission 6FA industrial gas turbines in Russia and CIS countries. The location of production facility will be near Rybinsk in the Yaroslavl region with an initial capacity of 14 units per year.
See latest price movement of this stock
General Electric shares traded up 1.33% during last trading session, finishing at $21.34 a piece. The share price of GE floated yesterday in a range of $21.02 to $21.39. The boost gave the company a market-cap of over $225.33 billion.
How to determine strength or weakness after that shift in price?
The stock, after recent close, is -2.07% down their SMA 50 and 7.94% off the 52-week high. The worst hit in its 52 week range is $14.68 per share, with $23.18 as its 52 week best price that compares with a latest closing price of $21.34. Its latest closing price has a distance of -4.18% from SMA20 and is 7.26% up than SMA200.
What are the effects on the stock performance?
With recent gain, the year-to-date (YTD) performance reflected a 22.15% gain above last year. During the past month the stock declined -6.44%, bringing three-month performance to +3.74% and six-month performance to +9.72%.
How it participates in the overall market?
Historically, the volatility of this stock is about 1.72% a week and 1.46% a month, but keep in mind volatility keeps on changing. For this company, beta value at 1.61 represents it is more volatile to the shift in the market.
Do you still seek better idea? Look at analyst opinion
The average analysts that follow this company have a ‘Strong Buy’ rating on this stock, according to Zacks Investment Research. Of 12 analysts, 7 maintain that rating, 1 set the stock as buy and 4 give to hold.