SOLV Energy (NASDAQ:MWH) Reaches New 52-Week High – Here’s Why

SOLV Energy Inc. (NASDAQ:MWH) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $39.43 and last traded at $39.53, with a volume of 172236 shares. The stock had previously closed at $37.53.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Guggenheim assumed coverage on SOLV Energy in a report on Monday, March 9th. They set a “buy” rating and a $37.00 target price on the stock. Roth Mkm began coverage on SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $35.00 price target on the stock. Robert W. Baird assumed coverage on SOLV Energy in a research note on Monday, March 9th. They issued an “outperform” rating and a $36.00 price target on the stock. Wall Street Zen upgraded SOLV Energy to a “hold” rating in a report on Sunday, February 22nd. Finally, Canadian Imperial Bank of Commerce raised their price objective on SOLV Energy from $37.00 to $38.00 and gave the company an “outperformer” rating in a research report on Monday, April 20th. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $35.55.

SOLV Energy Price Performance

The firm’s fifty day simple moving average is $31.25.

SOLV Energy (NASDAQ:MWH) last issued its earnings results on Thursday, March 19th. The company reported $0.30 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.15 by $0.15. The business’s revenue was up 80.0% on a year-over-year basis.

SOLV Energy Company Profile

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.