SOLV Energy (NASDAQ:MWH) Trading Up 6.1% – Time to Buy?

SOLV Energy Inc. (NASDAQ:MWH) was up 6.1% during trading on Tuesday . The company traded as high as $34.69 and last traded at $34.1550. Approximately 157,463 shares changed hands during mid-day trading, a decline of 87% from the average daily volume of 1,239,953 shares. The stock had previously closed at $32.18.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Evercore assumed coverage on SOLV Energy in a research note on Monday, March 9th. They set an “outperform” rating and a $34.00 target price on the stock. Wall Street Zen raised SOLV Energy to a “hold” rating in a research report on Sunday, February 22nd. Wolfe Research assumed 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. UBS Group reaffirmed a “neutral” rating and issued a $50.00 target price (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. Finally, Guggenheim lifted their target price on SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, SOLV Energy has an average rating of “Moderate Buy” and a consensus target price of $40.00.

SOLV Energy Price Performance

The company has a 50-day moving average price of $36.54.

SOLV Energy (NASDAQ:MWH) last posted its earnings results on Thursday, March 19th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. SOLV Energy’s revenue for the quarter was up 80.0% on a year-over-year basis.

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.