SOLV Energy (NASDAQ:MWH) Hits New 12-Month High – Should You Buy?

SOLV Energy Inc. (NASDAQ:MWH) hit a new 52-week high during mid-day trading on Thursday . The company traded as high as $39.43 and last traded at $39.53, with a volume of 172236 shares traded. The stock had previously closed at $37.53.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MWH shares. Jefferies Financial Group started coverage on SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $32.00 target price on the stock. TD Cowen started coverage on SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $32.00 target price on the stock. Roth Mkm started coverage on SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $35.00 target price on the stock. JPMorgan Chase & Co. started coverage on SOLV Energy in a research report on Monday, March 9th. They set an “overweight” rating and a $34.00 target price on the stock. Finally, Wolfe Research started coverage on SOLV Energy in a research report on Monday, March 9th. They set an “outperform” rating and a $35.00 target price on the stock. Eleven investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $35.55.

SOLV Energy Price Performance

The stock’s fifty day moving average price is $31.07.

SOLV Energy (NASDAQ:MWH) last announced its quarterly earnings data on Thursday, March 19th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. SOLV Energy’s revenue was up 80.0% compared to the same quarter last year.

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.