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

SOLV Energy Inc. (NASDAQ:MWH – Get Free Report) reached a new 52-week low on Thursday. The company traded as low as $23.12 and last traded at $23.46, with a volume of 80,686 shares. The stock had previously closed at $24.30.

Analyst Ratings Changes

MWH has been the topic of several analyst reports. Zacks Research downgraded shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Robert W. Baird decreased their price objective on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday, August 14th. TD Cowen raised their target price on SOLV Energy from $32.00 to $35.00 and gave the company a “buy” rating in a research note on Tuesday, August 25th. Canadian Imperial Bank of Commerce restated an “outperform” rating and set a $42.00 target price on shares of SOLV Energy in a research note on Friday, August 14th. Finally, Weiss Ratings lowered SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research report on Friday, September 25th. Ten research 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’s stock. According to MarketBeat, SOLV Energy has a consensus rating of “Moderate Buy” and a consensus price target of $38.55.

View Our Latest Analysis on SOLV Energy

SOLV Energy Price Performance

The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09. The stock has a market capitalization of $4.85 billion and a price-to-earnings ratio of 79.87. The company has a 50-day simple moving average of $26.52 and a two-hundred day simple moving average of $31.14.

SOLV Energy (NASDAQ:MWH – Get Free Report) last announced its earnings results on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $951.24 million for the quarter. The business’s quarterly revenue was up 77.4% on a year-over-year basis. On average, equities research analysts predict that SOLV Energy Inc. will post 1.22 earnings per share for the current year.

Institutional Trading of SOLV Energy

Several institutional investors and hedge funds have recently bought and sold shares of MWH. GAMMA Investing LLC raised its stake in SOLV Energy by 4,255.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock valued at $30,000 after purchasing an additional 1,234 shares during the period. Continuum Advisory LLC purchased a new stake in shares of SOLV Energy in the second quarter valued at $142,000. State of Alaska Department of Revenue acquired a new stake in shares of SOLV Energy in the third quarter worth $154,000. Arizona State Retirement System purchased a new position in shares of SOLV Energy during the second quarter valued at $222,000. Finally, Public Employees Retirement System of Ohio purchased a new position in shares of SOLV Energy during the second quarter valued at $375,000.

SOLV Energy Company Profile

(Get Free Report)

SOLV Energy is a renewable-energy services company focused on the development, construction, operation and maintenance of utility-scale solar power and energy-storage projects. The company provides engineering, procurement and construction services, helping project owners design and build large photovoltaic generation facilities and battery-storage systems.

In addition to project construction, SOLV Energy offers operations and maintenance, asset management, monitoring and technical services intended to support the long-term performance and reliability of renewable-energy assets.

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