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

SOLV Energy Inc. (NASDAQ:MWH)’s stock price reached a new 52-week high on Wednesday . The stock traded as high as $45.49 and last traded at $45.19, with a volume of 1147092 shares changing hands. The stock had previously closed at $42.51.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on MWH shares. TD Cowen started coverage on SOLV Energy in a research note on Monday, March 9th. They issued a “buy” rating and a $32.00 target price on the stock. Robert W. Baird started coverage on SOLV Energy in a research note on Monday, March 9th. They issued an “outperform” rating and a $36.00 target price on the stock. Wall Street Zen raised SOLV Energy to a “hold” rating in a research note on Sunday, February 22nd. Roth Mkm started coverage on SOLV Energy in a research note on Monday, March 9th. They issued a “buy” rating and a $35.00 target price on the stock. Finally, Evercore started coverage on SOLV Energy in a research note on Monday, March 9th. They issued an “outperform” rating and a $34.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $35.55.

SOLV Energy Stock Up 6.3%

The firm has a 50-day moving average price of $31.53.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings results on Thursday, March 19th. The company reported $0.30 EPS for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The firm’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.