SOLV Energy (NASDAQ:MWH) Hits New 12-Month Low – Should You Sell?

SOLV Energy Inc. (NASDAQ:MWH)’s stock price reached a new 52-week low during trading on Thursday. The stock traded as low as $23.12 and last traded at $23.46, with a volume of 80,686 shares trading hands. The stock had previously closed at $24.30.

Analysts Set New Price Targets

A number of analysts have issued reports on MWH shares. TD Cowen lifted their price target on SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. KeyCorp lowered their price objective on SOLV Energy from $43.00 to $35.00 and set an “overweight” rating for the company in a research report on Thursday. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and issued a $42.00 price objective on shares of SOLV Energy in a report on Friday, August 14th. Zacks Research downgraded SOLV Energy from a “strong-buy” rating to a “hold” rating in a report on Tuesday, September 8th. Finally, Robert W. Baird cut their target price on SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $38.55.

SOLV Energy Stock Down 1.0%

The firm has a market cap of $4.87 billion and a PE ratio of 80.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The firm’s 50-day moving average price is $26.69 and its two-hundred day moving average price is $31.22.

SOLV Energy (NASDAQ:MWH) 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 company had revenue of $951.24 million during the quarter. The company’s quarterly revenue was up 77.4% compared to the same quarter last year. As a group, equities research analysts expect that SOLV Energy Inc. will post 1.28 EPS for the current fiscal year.

Hedge Funds Weigh In On SOLV Energy

Several large investors have recently bought and sold shares of the stock. Sax Wealth Advisors LLC purchased a new position in shares of SOLV Energy during the third quarter worth about $354,000. GAMMA Investing LLC lifted its holdings in shares of SOLV Energy by 4,255.2% in 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 last quarter. Green Alpha Advisors LLC purchased a new stake in shares of SOLV Energy in the 3rd quarter valued at about $1,092,000. Tidal Investments LLC acquired a new stake in shares of SOLV Energy in the 2nd quarter valued at about $1,675,000. Finally, Maven Securities LTD purchased a new position in SOLV Energy during the 2nd quarter worth approximately $535,000.

SOLV Energy Company Profile

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.