SOLV Energy (NASDAQ:MWH) Shares Down 7.5% – Time to Sell?

SOLV Energy Inc. (NASDAQ:MWH)’s share price fell 7.5% during mid-day trading on Friday . The stock traded as low as $28.21 and last traded at $27.6780. 146,728 shares traded hands during mid-day trading, a decline of 90% from the average daily volume of 1,469,137 shares. The stock had previously closed at $29.92.

Analyst Ratings Changes

A number of equities research analysts have weighed in on MWH shares. KeyCorp upped their target price on SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 13th. Guggenheim lifted their price target on SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, May 26th. Weiss Ratings initiated coverage on SOLV Energy in a report on Wednesday, June 3rd. They issued a “sell (d)” rating for the company. Robert W. Baird raised their target price on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce lifted their target price on SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a report on Monday, April 20th. Ten analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, SOLV Energy has an average rating of “Moderate Buy” and an average target price of $40.00.

SOLV Energy Trading Down 8.7%

The business has a fifty day moving average of $33.40.

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.