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

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

Analyst Upgrades and Downgrades

MWH has been the topic of several research reports. Robert W. Baird lifted their price target on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, May 13th. Guggenheim upped their price objective on shares of SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Weiss Ratings initiated coverage on SOLV Energy in a report on Wednesday, June 3rd. They set a “sell (d)” rating for the company. KeyCorp upped their price objective on SOLV Energy from $36.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, UBS Group restated a “neutral” rating and issued a $50.00 price target (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. 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 company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $40.00.

SOLV Energy Stock Performance

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

Institutional Inflows and Outflows

A hedge fund recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp lifted its stake in SOLV Energy Inc. (NASDAQ:MWH) by 697.6% during the 2nd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 98,660 shares of the company’s stock after buying an additional 86,290 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.08% of SOLV Energy worth $3,359,000 at the end of the most recent reporting period.

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.