SOLV Energy Inc. (NASDAQ:MWH – Get Free Report) saw a large growth in short interest during the month of July. As of July 31st, there was short interest totaling 7,980,092 shares, a growth of 68.9% from the July 15th total of 4,723,626 shares. Approximately 6.4% of the company’s shares are short sold. Based on an average daily volume of 2,451,812 shares, the short-interest ratio is presently 3.3 days.
Analyst Ratings Changes
A number of brokerages have recently commented on MWH. Zacks Research raised shares of SOLV Energy from a “hold” rating to a “strong-buy” rating in a research report on Monday, August 10th. KeyCorp lifted their price objective on shares of SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Guggenheim increased their price target on SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Robert W. Baird dropped their price objective on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $42.00 price target on shares of SOLV Energy in a report on Friday. One analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, SOLV Energy has a consensus rating of “Moderate Buy” and an average price target of $39.64.
Check Out Our Latest Stock Report on SOLV Energy
Institutional Trading of SOLV Energy
SOLV Energy Stock Performance
SOLV Energy stock traded down $0.35 during trading on Monday, reaching $31.65. 1,431,288 shares of the company were exchanged, compared to its average volume of 1,540,802. SOLV Energy has a 52-week low of $23.83 and a 52-week high of $48.40. The firm’s 50 day moving average price is $30.56. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.06 and a current ratio of 1.06.
SOLV Energy (NASDAQ:MWH – Get Free Report) last posted its earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. The company’s quarterly revenue was up 77.4% on a year-over-year basis. On average, research analysts predict that SOLV Energy will post 1.49 EPS for the current year.
About SOLV Energy
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.
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