SOLV Energy (NASDAQ:MWH) Hits New 1-Year High – Should You Buy?

Shares of SOLV Energy Inc. (NASDAQ:MWH) hit a new 52-week high during trading on Wednesday . The stock traded as high as $45.49 and last traded at $45.19, with a volume of 1147092 shares. The stock had previously closed at $42.51.

Analyst Upgrades and Downgrades

MWH has been the topic of several research analyst reports. KeyCorp increased their target price on SOLV Energy from $34.00 to $36.00 and gave the stock an “overweight” rating in a report on Wednesday, April 15th. JPMorgan Chase & Co. assumed coverage on SOLV Energy in a report on Monday, March 9th. They set an “overweight” rating and a $34.00 target price on the stock. Wolfe Research assumed coverage on SOLV Energy in a report on Monday, March 9th. They issued an “outperform” rating and a $35.00 price target on the stock. Wall Street Zen upgraded SOLV Energy to a “hold” rating in a report on Sunday, February 22nd. Finally, Robert W. Baird assumed coverage on SOLV Energy in a report on Monday, March 9th. They issued an “outperform” rating and a $36.00 price target on the stock. Eleven equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $35.55.

SOLV Energy Price Performance

The business’s fifty day moving average price is $31.53.

SOLV Energy (NASDAQ:MWH) last posted its quarterly earnings results on Thursday, March 19th. The company reported $0.30 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.15 by $0.15. SOLV Energy’s revenue for the quarter 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.