SOLV Energy (NASDAQ:MWH) Trading Up 6.9% on Analyst Upgrade

SOLV Energy Inc. (NASDAQ:MWH – Get Free Report)’s share price traded up 6.9% during mid-day trading on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The company traded as high as $30.18 and last traded at $30.6540. 67,542 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 1,510,495 shares. The stock had previously closed at $28.68.

Several other analysts also recently weighed in on the stock. Guggenheim boosted their price target on shares of SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, May 26th. Weiss Ratings started coverage on SOLV Energy in a research note on Wednesday, June 3rd. They issued a “sell (d)” rating for the company. KeyCorp increased their target price on SOLV Energy from $36.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. Robert W. Baird raised their price target on SOLV Energy from $36.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Finally, UBS Group reaffirmed a “neutral” rating and issued a $50.00 price target (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. One 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 issued a Sell rating to the stock. According to data from MarketBeat, SOLV Energy has an average rating of “Moderate Buy” and an average target price of $40.00.

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Institutional Trading of SOLV Energy

An institutional investor recently raised its stake in SOLV Energy stock. Bank of New York Mellon Corp increased its holdings in SOLV Energy Inc. (NASDAQ:MWH – Free Report) by 697.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,660 shares of the company’s stock after purchasing an additional 86,290 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.08% of SOLV Energy worth $3,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

SOLV Energy Trading Down 0.6%

The company has a quick ratio of 1.06, a current ratio of 1.06 and a debt-to-equity ratio of 0.07. The stock’s fifty day moving average price is $30.63.

SOLV Energy Company Profile

(Get Free Report)

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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