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

Shares of SOLV Energy Inc. (NASDAQ:MWH) reached a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $45.49 and last traded at $45.19, with a volume of 1147092 shares. The stock had previously closed at $42.51.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. KeyCorp raised their target price on SOLV Energy from $34.00 to $36.00 and gave the company an “overweight” rating in a research report on Wednesday, April 15th. Wall Street Zen upgraded shares of SOLV Energy to a “hold” rating in a report on Sunday, February 22nd. Zacks Research upgraded shares of SOLV Energy to a “hold” rating in a research report on Tuesday, March 10th. Canadian Imperial Bank of Commerce boosted their price target on shares of SOLV Energy from $37.00 to $38.00 and gave the company an “outperformer” rating in a research note on Monday, April 20th. Finally, UBS Group started coverage on shares of SOLV Energy in a research report on Monday, March 9th. They set a “buy” rating and a $42.00 price objective for the company. Eleven investment analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $35.55.

SOLV Energy Stock Performance

The stock’s 50-day simple moving average is $31.97.

SOLV Energy (NASDAQ:MWH) last posted its earnings results on Thursday, March 19th. The company reported $0.30 earnings per share for the quarter, beating the consensus estimate of $0.15 by $0.15. The firm’s revenue for the quarter was up 80.0% compared to the same quarter last year.

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.