SOLV Energy (NASDAQ:MWH) Reaches New 1-Year High – Still a Buy?

Shares of SOLV Energy Inc. (NASDAQ:MWH) reached a new 52-week high on Tuesday . The stock traded as high as $48.40 and last traded at $45.8550, with a volume of 278227 shares traded. The stock had previously closed at $44.83.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Wolfe Research assumed coverage on SOLV Energy in a research report on Monday, March 9th. They issued an “outperform” rating and a $35.00 price objective on the stock. Robert W. Baird upped their price target on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday. 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 report on Monday, April 20th. Evercore assumed coverage on SOLV Energy in a research report on Monday, March 9th. They issued an “outperform” rating and a $34.00 price objective for the company. Finally, Guggenheim started coverage on shares of SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $37.00 target price on the stock. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $38.82.

SOLV Energy Price Performance

The company has a 50 day simple moving average of $33.09.

SOLV Energy (NASDAQ:MWH) last issued its earnings results on Thursday, March 19th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The firm’s revenue was up 80.0% on a year-over-year basis.

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.