SOLV Energy (NASDAQ:MWH) Sees Large Volume Increase – Still a Buy?

SOLV Energy Inc. (NASDAQ:MWH) shares saw unusually-high trading volume on Friday . Approximately 2,815,689 shares traded hands during mid-day trading, an increase of 172% from the previous session’s volume of 1,034,550 shares.The stock last traded at $36.16 and had previously closed at $36.71.

Analyst Ratings Changes

MWH has been the topic of a number of research analyst reports. Wall Street Zen upgraded SOLV Energy to a “hold” rating in a report on Sunday, February 22nd. Robert W. Baird raised their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, May 13th. Jefferies Financial Group started coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $32.00 price target on the stock. JPMorgan Chase & Co. started coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued an “overweight” rating and a $34.00 price target on the stock. Finally, Roth Mkm started coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $35.00 price target on the stock. Ten research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $40.00.

SOLV Energy Stock Down 3.0%

The business’s fifty day simple moving average is $35.45.

SOLV Energy (NASDAQ:MWH) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. The firm’s revenue was up 80.0% compared to the same quarter last year.

About SOLV Energy

SOLV Energy (NASDAQ: MWH) is a renewable energy company that develops, constructs and operates solar and energy storage projects. The firm provides solutions aimed at reducing customers’ reliance on traditional grid power by pairing photovoltaic systems with battery storage where appropriate. SOLV’s activities are centered on delivering commercial-scale and distributed generation projects for business, institutional and public sector clients.

The company’s services encompass multiple phases of project delivery, including site assessment, system design, procurement, engineering and construction, and ongoing operations and maintenance.