SOLV Energy (NASDAQ:MWH) Trading Up 6.1% – Time to Buy?

SOLV Energy Inc. (NASDAQ:MWH) shares shot up 6.1% during trading on Tuesday . The company traded as high as $34.69 and last traded at $34.1550. 157,463 shares traded hands during trading, a decline of 87% from the average session volume of 1,239,953 shares. The stock had previously closed at $32.18.

Wall Street Analyst Weigh In

A number of research firms have recently commented on MWH. UBS Group reiterated a “neutral” rating and set a $50.00 target price (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. Weiss Ratings assumed coverage on shares of SOLV Energy in a research note on Wednesday, June 3rd. They set a “sell (d)” rating for the company. Wolfe Research assumed coverage on shares of SOLV Energy in a research note on Monday, March 9th. They set an “outperform” rating and a $35.00 target price for the company. Wall Street Zen upgraded shares of SOLV Energy to a “hold” rating in a research note on Sunday, February 22nd. Finally, Zacks Research upgraded SOLV Energy to a “hold” rating in a research note on Tuesday, March 10th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $40.00.

SOLV Energy Trading Up 8.3%

The company has a 50 day moving average price of $36.54.

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

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.