SOLV Energy (NASDAQ:MWH) Shares Down 6.5% – Should You Sell?

SOLV Energy Inc. (NASDAQ:MWH) shares fell 6.5% on Tuesday . The company traded as low as $33.10 and last traded at $33.06. Approximately 901,759 shares changed hands during mid-day trading, a decline of 33% from the average session volume of 1,341,365 shares. The stock had previously closed at $35.35.

Analyst Upgrades and Downgrades

MWH has been the subject of a number of research analyst reports. Guggenheim lifted their price objective on shares of SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. Canadian Imperial Bank of Commerce lifted their target price on shares of SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a report on Monday, April 20th. Zacks Research upgraded shares of SOLV Energy to a “hold” rating in a research note on Tuesday, March 10th. UBS Group reissued a “neutral” rating and issued a $50.00 price target (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Finally, Roth Mkm assumed coverage on shares of SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $35.00 price objective for the company. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, SOLV Energy has an average rating of “Moderate Buy” and an average price target of $40.00.

SOLV Energy Stock Down 5.7%

The firm has a fifty day simple moving average of $37.25.

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.