SOLV Energy (NASDAQ:MWH) Sees Large Volume Increase – Time to Buy?

SOLV Energy Inc. (NASDAQ:MWH) shares saw unusually-high trading volume on Monday . Approximately 919,697 shares were traded during mid-day 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 Upgrades and Downgrades

MWH has been the subject of a number of recent research reports. 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 for the company. Jefferies Financial Group started coverage on shares of SOLV Energy in a report on Monday, March 9th. They set a “buy” rating and a $32.00 price target for the company. Weiss Ratings started coverage on shares of SOLV Energy in a report on Wednesday, June 3rd. They set a “sell (d)” rating for the company. KeyCorp raised their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce raised their price objective on SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research report on Monday, April 20th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, SOLV Energy has a consensus rating of “Moderate Buy” and an average target price of $40.00.

SOLV Energy Trading Up 0.6%

The firm has a 50 day simple moving average of $36.63.

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