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

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

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MWH shares. Zacks Research cut shares of SOLV Energy from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, September 8th. Robert W. Baird dropped their price objective on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating for the company in a report on Friday, August 14th. KeyCorp dropped their price objective on shares of SOLV Energy from $43.00 to $35.00 and set an “overweight” rating for the company in a report on Thursday. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and set a $42.00 target price on shares of SOLV Energy in a research note on Friday, August 14th. Finally, Weiss Ratings lowered shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a report on Friday, September 25th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SOLV Energy currently has an average rating of “Moderate Buy” and an average price target of $38.55.

SOLV Energy Price Performance

The stock has a market capitalization of $4.87 billion and a price-to-earnings 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 company has a 50 day moving average of $26.69 and a 200 day moving average of $31.22.

SOLV Energy (NASDAQ:MWH) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share (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 revenue for the quarter was up 77.4% on a year-over-year basis. As a group, equities research analysts anticipate that SOLV Energy Inc. will post 1.28 EPS for the current year.

Institutional Trading of SOLV Energy

A number of large investors have recently made changes to their positions in the company. Sax Wealth Advisors LLC purchased a new position in SOLV Energy in the third quarter worth approximately $354,000. GAMMA Investing LLC grew its holdings in SOLV Energy by 4,255.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company’s stock worth $30,000 after acquiring an additional 1,234 shares in the last quarter. Green Alpha Advisors LLC acquired a new position in SOLV Energy during the 3rd quarter worth approximately $1,092,000. Tidal Investments LLC purchased a new stake in shares of SOLV Energy in the 2nd quarter valued at approximately $1,675,000. Finally, Maven Securities LTD purchased a new stake in shares of SOLV Energy in the 2nd quarter valued at approximately $535,000.

About SOLV Energy

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.