SOLV Energy (NASDAQ:MWH) Shares Down 5.8% – Time to Sell?

SOLV Energy Inc. (NASDAQ:MWH)’s stock price traded down 5.8% during trading on Friday . The company traded as low as $27.25 and last traded at $27.25. Approximately 180,270 shares were traded during mid-day trading, a decline of 89% from the average daily volume of 1,569,720 shares. The stock had previously closed at $28.92.

Analyst Upgrades and Downgrades

MWH has been the topic of several research analyst reports. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $42.00 price target on shares of SOLV Energy in a research note on Friday, August 14th. Guggenheim upped their price objective 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 upgraded shares of SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a research note on Friday, August 14th. Zacks Research upgraded SOLV Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. Finally, KeyCorp upped their price target on SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $39.64.

SOLV Energy Stock Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.06. The firm has a market cap of $3.52 billion and a PE ratio of 94.47. The business’s fifty day moving average price is $30.35.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. The company’s revenue for the quarter was up 77.4% compared to the same quarter last year. Sell-side analysts forecast that SOLV Energy Inc. will post 1.3 EPS for the current fiscal year.

Hedge Funds Weigh In On SOLV Energy

Hedge funds have recently bought and sold shares of the stock. Continuum Advisory LLC acquired a new position in shares of SOLV Energy in the second quarter worth $142,000. Wellington Management Group LLP acquired a new stake in shares of SOLV Energy during the second quarter valued at $4,852,000. Public Employees Retirement System of Ohio purchased a new stake in SOLV Energy during the 2nd quarter worth about $375,000. Neumeier Poma Investment Counsel LLC purchased a new stake in SOLV Energy during the 2nd quarter worth about $18,320,262,000. Finally, Bank of New York Mellon Corp raised its stake in SOLV Energy by 697.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company’s stock valued at $3,359,000 after purchasing an additional 86,290 shares during the last quarter.

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.