SOLV Energy (NASDAQ:MWH) Shares Down 6.9% – Time to Sell?

SOLV Energy Inc. (NASDAQ:MWH)’s share price dropped 6.9% during trading on Wednesday . The stock traded as low as $30.58 and last traded at $30.5210. Approximately 155,730 shares were traded during mid-day trading, a decline of 87% from the average daily volume of 1,222,919 shares. The stock had previously closed at $32.80.

Analyst Upgrades and Downgrades

MWH has been the subject of several research reports. Jefferies Financial Group initiated coverage on SOLV Energy in a research report on Monday, March 9th. They issued a “buy” rating and a $32.00 target price for the company. Weiss Ratings initiated coverage on SOLV Energy in a research report on Wednesday, June 3rd. They issued a “sell (d)” rating for the company. Robert W. Baird increased their target price on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Wolfe Research initiated coverage on SOLV Energy in a research report on Monday, March 9th. They issued an “outperform” rating and a $35.00 target price for the company. Finally, Roth Mkm initiated coverage on SOLV Energy in a research report on Monday, March 9th. They issued a “buy” rating and a $35.00 target price for the company. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

SOLV Energy Stock Down 6.3%

The company’s 50 day moving average price is $36.38.

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

SOLV Energy Company Profile

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.