SOLV Energy Inc. (NASDAQ:MWH) Sees Significant Growth in Short Interest

SOLV Energy Inc. (NASDAQ:MWHGet 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

An institutional investor recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp lifted its holdings in SOLV Energy Inc. (NASDAQ:MWHFree Report) by 697.6% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,660 shares of the company’s stock after purchasing an additional 86,290 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of SOLV Energy worth $3,359,000 at the end of the most recent reporting period.

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:MWHGet 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

(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.

Further Reading

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