SOLV Energy (NASDAQ:MWH) Sets New 12-Month High – What’s Next?

SOLV Energy Inc. (NASDAQ:MWH)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $48.40 and last traded at $45.8550, with a volume of 278227 shares trading hands. The stock had previously closed at $44.83.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on MWH shares. Jefferies Financial Group assumed coverage on shares of SOLV Energy in a research note on Monday, March 9th. They set a “buy” rating and a $32.00 target price for the company. UBS Group assumed coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $42.00 price target on the stock. Evercore assumed coverage on shares of SOLV Energy in a research report on Monday, March 9th. They set an “outperform” rating and a $34.00 price objective for the company. Canadian Imperial Bank of Commerce raised their price objective on shares of SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research report on Monday, April 20th. Finally, Wolfe Research started coverage on SOLV Energy in a research report on Monday, March 9th. They issued an “outperform” rating and a $35.00 target price on the stock. Eleven analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $35.55.

SOLV Energy Trading Up 1.7%

The company has a 50-day moving average of $32.50.

SOLV Energy (NASDAQ:MWH) last issued 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. The firm’s revenue for the quarter was up 80.0% compared to the same quarter last year.

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.