SOLV Energy (NASDAQ:MWH) Trading Up 6.9% – What’s Next?

SOLV Energy Inc. (NASDAQ:MWH) was up 6.9% on Tuesday . The stock traded as high as $30.18 and last traded at $30.6540. Approximately 67,542 shares traded hands during trading, a decline of 96% from the average daily volume of 1,510,495 shares. The stock had previously closed at $28.68.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on MWH. KeyCorp increased their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the company an “overweight” rating in a report on Wednesday, May 13th. UBS Group reaffirmed a “neutral” rating and set a $50.00 price target (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. Robert W. Baird boosted their target price on shares of SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Guggenheim increased their price target on SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Finally, Canadian Imperial Bank of Commerce raised their price target on SOLV Energy from $37.00 to $38.00 and gave the company an “outperformer” rating in a research note on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $40.00.

SOLV Energy Stock Performance

The firm has a 50 day moving average of $30.85. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.07.

Institutional Trading of SOLV Energy

A hedge fund recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp lifted its holdings in SOLV Energy Inc. (NASDAQ:MWH) by 697.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.08% of SOLV Energy worth $3,359,000 as of its most recent SEC filing.

About SOLV Energy

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.