SOLV Energy Inc.’s (NASDAQ:MWH) Lock-Up Period Will Expire on August 10th

SOLV Energy’s (NASDAQ:MWH) lock-up period will end on Monday, August 10th. SOLV Energy had issued 20,500,000 shares in its initial public offering on February 11th. The total size of the offering was $512,500,000 based on an initial share price of $25.00. After the end of the company’s lock-up period, restrictions preventing major shareholders and company insiders from selling shares in the company will be lifted.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MWH. Guggenheim raised their price target on SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Robert W. Baird increased their price objective on SOLV Energy from $36.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. KeyCorp raised their target price on SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. UBS Group reaffirmed a “neutral” rating and set a $50.00 target price (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Finally, Weiss Ratings began coverage on SOLV Energy in a research report on Wednesday, June 3rd. They set a “sell (d)” rating on the stock. Ten equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, SOLV Energy presently has a consensus rating of “Moderate Buy” and an average target price of $40.00.

SOLV Energy Stock Down 1.1%

MWH opened at $28.80 on Wednesday. SOLV Energy has a one year low of $23.83 and a one year high of $48.40. The firm’s fifty day moving average price is $31.49.

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.