SOLV Energy (NASDAQ:MWH) Sees Strong Trading Volume – Here’s Why

Shares of SOLV Energy Inc. (NASDAQ:MWH) saw an uptick in trading volume on Monday . 919,697 shares were traded during trading, a decline of 26% from the previous session’s volume of 1,241,615 shares.The stock last traded at $32.2950 and had previously closed at $31.75.

Analyst Ratings Changes

A number of analysts recently issued reports on MWH shares. Roth Mkm assumed coverage on SOLV Energy in a research note on Monday, March 9th. They set a “buy” rating and a $35.00 target price for the company. Canadian Imperial Bank of Commerce lifted their price target on shares of SOLV Energy from $37.00 to $38.00 and gave the company an “outperformer” rating in a research note on Monday, April 20th. JPMorgan Chase & Co. assumed coverage on shares of SOLV Energy in a research note on Monday, March 9th. They issued an “overweight” rating and a $34.00 price target on the stock. Guggenheim lifted their price target on shares of SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Finally, Robert W. Baird lifted their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. Ten equities research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.00.

SOLV Energy Trading Up 1.3%

The firm’s 50-day moving average price is $36.49.

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 business’s revenue for the quarter was up 80.0% on a year-over-year basis.

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.