SOLV Energy (NASDAQ:MWH) Hits New 12-Month Low – Here’s Why

SOLV Energy Inc. (NASDAQ:MWH)’s stock price hit a new 52-week low during trading on Tuesday . The stock traded as low as $26.10 and last traded at $25.8720, with a volume of 28685 shares trading hands. The stock had previously closed at $28.06.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. UBS Group reiterated a “neutral” rating and set a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. 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 report on Wednesday, May 13th. Guggenheim lifted their target price on SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings started coverage on SOLV Energy in a research report on Wednesday, June 3rd. They set a “sell (d)” rating for the company. Finally, Canadian Imperial Bank of Commerce increased their price target on SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research note on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, SOLV Energy currently has an average rating of “Moderate Buy” and a consensus target price of $40.00.

SOLV Energy Stock Performance

The company’s fifty day moving average is $32.83.

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.