SOLV Energy (NASDAQ:MWH) Trading Down 7.5% – Should You Sell?

SOLV Energy Inc. (NASDAQ:MWH)’s share price fell 7.5% on Friday . The company traded as low as $28.21 and last traded at $27.6780. 146,728 shares were traded during trading, a decline of 90% from the average daily volume of 1,469,137 shares. The stock had previously closed at $29.92.

Analysts Set New Price Targets

A number of research analysts recently commented on the company. Guggenheim upped their price objective on SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Robert W. Baird raised their target price on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Weiss Ratings initiated coverage on shares of SOLV Energy in a report on Wednesday, June 3rd. They set a “sell (d)” rating for the company. Canadian Imperial Bank of Commerce upped their price target on shares of SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research report on Monday, April 20th. Finally, KeyCorp increased their price objective on shares of SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $40.00.

SOLV Energy Price Performance

The business’s 50 day simple moving average is $33.40.

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.