SOLV Energy Inc. (NASDAQ:MWH) Short Interest Update

SOLV Energy Inc. (NASDAQ:MWH) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 7,980,092 shares, a growth of 68.9% from the July 15th total of 4,723,626 shares. Based on an average daily trading volume, of 2,451,812 shares, the short-interest ratio is presently 3.3 days. Approximately 6.4% of the shares of the stock are sold short.

Wall Street Analyst Weigh In

MWH has been the topic of several research analyst reports. Robert W. Baird lowered their price objective on SOLV Energy from $50.00 to $42.00 and set an “outperform” rating on the stock in a research report on Friday, August 14th. Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $42.00 target price on shares of SOLV Energy in a research report on Friday. Zacks Research raised SOLV Energy from a “hold” rating to a “strong-buy” rating in a research note on Monday, August 10th. KeyCorp upped their price target on SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Weiss Ratings raised shares of SOLV Energy from a “sell (d)” rating to a “sell (d+)” rating in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, ten have assigned a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, SOLV Energy currently has an average rating of “Moderate Buy” and an average target price of $39.64.

SOLV Energy Stock Down 4.1%

Shares of SOLV Energy stock opened at $30.27 on Wednesday. SOLV Energy has a twelve month low of $23.83 and a twelve month high of $48.40. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.07. The firm’s 50-day moving average price is $30.47. The stock has a market capitalization of $3.76 billion and a price-to-earnings ratio of 100.90.

SOLV Energy (NASDAQ:MWH) last announced its quarterly earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.04. The firm had revenue of $951.24 million for the quarter. SOLV Energy’s revenue for the quarter was up 77.4% compared to the same quarter last year. On average, equities analysts expect that SOLV Energy will post 1.34 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio purchased a new position in shares of SOLV Energy in the second quarter valued at $375,000. Bank of New York Mellon Corp increased its position in SOLV Energy by 697.6% in the second quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company’s stock worth $3,359,000 after purchasing an additional 86,290 shares during the last quarter. Finally, Neumeier Poma Investment Counsel LLC purchased a new stake in SOLV Energy during the second quarter valued at $18,320,262,000.

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.