SOLV Energy (NASDAQ:MWH) Reaches New 12-Month Low – Here’s Why

Shares of SOLV Energy Inc. (NASDAQ:MWH) hit a new 52-week low during trading on Monday. The company traded as low as $23.80 and last traded at $23.86, with a volume of 302879 shares trading hands. The stock had previously closed at $25.20.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Weiss Ratings lowered shares of SOLV Energy from a “sell (d+)” rating to a “sell (d)” rating in a research note on Friday. TD Cowen lifted their price target on SOLV Energy from $32.00 to $35.00 and gave the stock a “buy” rating in a report on Tuesday, August 25th. Robert W. Baird lowered their price target 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. Zacks Research lowered SOLV Energy from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, September 8th. Finally, Canadian Imperial Bank of Commerce reiterated an “outperform” rating and set a $42.00 target price on shares of SOLV Energy in a research note on Friday, August 14th. Ten analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $39.91.

SOLV Energy Trading Up 1.8%

The business has a fifty day moving average price of $27.23 and a 200-day moving average price of $31.49. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.07. The company has a market cap of $4.90 billion and a P/E ratio of 80.77.

SOLV Energy (NASDAQ:MWH) last released its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, topping the consensus estimate of $0.26 by $0.04. The firm had revenue of $951.24 million for the quarter. The firm’s revenue was up 77.4% compared to the same quarter last year. On average, analysts forecast that SOLV Energy Inc. will post 1.28 earnings per share for the current year.

Institutional Investors Weigh In On SOLV Energy

A number of institutional investors have recently modified their holdings of the business. Continuum Advisory LLC bought a new position in SOLV Energy during the second quarter worth about $142,000. Arizona State Retirement System bought a new stake in SOLV Energy in the 2nd quarter valued at about $222,000. Public Employees Retirement System of Ohio acquired a new position in shares of SOLV Energy during the 2nd quarter worth approximately $375,000. Maven Securities LTD bought a new position in shares of SOLV Energy during the second quarter worth approximately $535,000. Finally, Readystate Asset Management LP acquired a new stake in shares of SOLV Energy in the second quarter valued at approximately $1,022,000.

SOLV Energy Company Profile

SOLV Energy is a renewable-energy services company that specializes in the development, engineering, procurement and construction of utility-scale solar power projects. The company also provides operations and maintenance services intended to support the long-term performance, reliability and efficiency of solar facilities.

In addition to solar photovoltaic installations, SOLV Energy works on battery energy-storage projects and related electrical infrastructure. Its services span project planning and design, equipment procurement, construction management, commissioning, and ongoing technical and field support for renewable-energy assets.

The company was formerly known as Swinerton Renewable Energy and adopted the SOLV Energy name in 2021.