SOLV Energy (NASDAQ:MWH) Trading Up 6.9% Following Analyst Upgrade

SOLV Energy Inc. (NASDAQ:MWH)’s stock price traded up 6.9% on Tuesday after Zacks Research upgraded the stock from a hold rating to a strong-buy rating. The stock traded as high as $30.18 and last traded at $30.6540. 67,542 shares were traded during mid-day trading, a decline of 96% from the average session volume of 1,510,495 shares. The stock had previously closed at $28.68.

Several other research firms have also recently commented on MWH. Weiss Ratings began coverage on shares of SOLV Energy in a research report on Wednesday, June 3rd. They issued a “sell (d)” rating for the company. Guggenheim boosted their price objective on SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, May 26th. KeyCorp increased 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. UBS Group restated a “neutral” rating and issued a $50.00 target price (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. Finally, Robert W. Baird lifted their target price on SOLV Energy from $36.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, ten have given a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $40.00.

Institutional Trading of SOLV Energy

An institutional investor recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp increased its stake in SOLV Energy Inc. (NASDAQ:MWH) by 697.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 98,660 shares of the company’s stock after acquiring an additional 86,290 shares during the period. Bank of New York Mellon Corp owned approximately 0.08% of SOLV Energy worth $3,359,000 at the end of the most recent reporting period.

SOLV Energy Stock Down 0.6%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.06 and a current ratio of 1.06. The company’s fifty day moving average is $30.63.

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.