SOLV Energy (NASDAQ:MWH) Shares Gap Down – Here’s What Happened

Shares of SOLV Energy Inc. (NASDAQ:MWH) gapped down before the market opened on Wednesday . The stock had previously closed at $39.48, but opened at $37.22. SOLV Energy shares last traded at $38.65, with a volume of 226,936 shares changing hands.

Wall Street Analyst Weigh In

A number of analysts have recently commented on the stock. UBS Group restated a “neutral” rating and set a $50.00 target price (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Wolfe Research started coverage on shares of SOLV Energy in a report on Monday, March 9th. They set an “outperform” rating and a $35.00 target price on the stock. Zacks Research upgraded shares of SOLV Energy to a “hold” rating in a research note on Tuesday, March 10th. KeyCorp upped their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 13th. Finally, Canadian Imperial Bank of Commerce upped their price target on shares of SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research note on Monday, April 20th. Ten equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, SOLV Energy has a consensus rating of “Moderate Buy” and an average price target of $40.00.

SOLV Energy Stock Performance

The stock has a 50 day moving average price of $35.14.

SOLV Energy (NASDAQ:MWH) last announced its quarterly earnings results on Thursday, March 19th. The company reported $0.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.15 by $0.15. The business’s quarterly revenue was up 80.0% on a year-over-year basis.

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.