SOLV Energy Inc. (NASDAQ:MWH) Short Interest Update

SOLV Energy Inc. (NASDAQ:MWH) was the recipient of a significant increase in short interest during the month of July. As of July 31st, there was short interest totaling 7,980,092 shares, an increase of 68.9% from the July 15th total of 4,723,626 shares. Currently, 6.4% of the company’s stock are short sold. Based on an average daily volume of 2,451,812 shares, the days-to-cover ratio is presently 3.3 days.

SOLV Energy Stock Performance

SOLV Energy stock traded down $0.35 during mid-day trading on Monday, reaching $31.65. The stock had a trading volume of 1,431,288 shares, compared to its average volume of 1,540,802. The company’s 50-day moving average price is $30.56. SOLV Energy has a one year low of $23.83 and a one year high of $48.40. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.06 and a quick ratio of 1.06.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The business had revenue of $951.24 million for the quarter. The business’s revenue was up 77.4% compared to the same quarter last year. Sell-side analysts anticipate that SOLV Energy will post 1.49 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Robert W. Baird reduced their price objective on shares of SOLV Energy from $50.00 to $42.00 and set an “outperform” rating for the company in a research report on Friday. Zacks Research raised shares of SOLV Energy from a “hold” rating to a “strong-buy” rating in a report on Monday, August 10th. Canadian Imperial Bank of Commerce reaffirmed an “outperform” rating and issued a $42.00 price target on shares of SOLV Energy in a report on Friday. Guggenheim upped their target price on shares of SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, May 26th. Finally, KeyCorp boosted their price objective on SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $39.64.

Institutional Investors Weigh In On SOLV Energy

A hedge fund recently bought a new position in SOLV Energy stock. Neumeier Poma Investment Counsel LLC purchased a new stake in shares of SOLV Energy Inc. (NASDAQ:MWH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 538,040 shares of the company’s stock, valued at approximately $18,320,262,000. Neumeier Poma Investment Counsel LLC owned approximately 0.43% of SOLV Energy as of its most recent SEC filing.

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.