Shares of SOLV Energy Inc. (NASDAQ:MWH – Get Free Report) shot up 6.8% during trading on Friday . The company traded as high as $25.97 and last traded at $26.17. Approximately 421,174 shares traded hands during mid-day trading, a decline of 73% from the average session volume of 1,558,748 shares. The stock had previously closed at $24.50.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on MWH shares. Canadian Imperial Bank of Commerce reissued an “outperform” rating and set a $42.00 price objective on shares of SOLV Energy in a research note on Friday, August 14th. Zacks Research cut shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Robert W. Baird decreased their price target on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 14th. TD Cowen upped their price objective on shares of SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research report on Tuesday, August 25th. Finally, Weiss Ratings upgraded SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday, August 14th. Ten analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $39.91.
Read Our Latest Analysis on SOLV Energy
SOLV Energy Trading Up 6.1%
SOLV Energy (NASDAQ:MWH – Get Free Report) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The company had revenue of $951.24 million during the quarter. The business’s revenue for the quarter was up 77.4% on a year-over-year basis. Analysts anticipate that SOLV Energy Inc. will post 1.28 EPS for the current fiscal year.
Institutional Investors Weigh In On SOLV Energy
Institutional investors have recently added to or reduced their stakes in the stock. Continuum Advisory LLC acquired a new position in SOLV Energy in the 2nd quarter worth $142,000. Arizona State Retirement System acquired a new stake in shares of SOLV Energy in the 2nd quarter valued at about $222,000. Public Employees Retirement System of Ohio bought a new stake in shares of SOLV Energy in the second quarter valued at about $375,000. Maven Securities LTD bought a new stake in shares of SOLV Energy in the second quarter valued at about $535,000. Finally, Readystate Asset Management LP acquired a new position in shares of SOLV Energy during the second quarter worth about $1,022,000.
SOLV Energy Company Profile
SOLV Energy is a renewable-energy services company that specializes in the development, engineering, procurement and construction of utility-scale solar power projects. The company also provides operations and maintenance services intended to support the long-term performance, reliability and efficiency of solar facilities.
In addition to solar photovoltaic installations, SOLV Energy works on battery energy-storage projects and related electrical infrastructure. Its services span project planning and design, equipment procurement, construction management, commissioning, and ongoing technical and field support for renewable-energy assets.
The company was formerly known as Swinerton Renewable Energy and adopted the SOLV Energy name in 2021.
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