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

SOLV Energy Inc. (NASDAQ:MWH)’s share price gapped down prior to trading 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.

Analyst Ratings Changes

MWH has been the topic of several recent analyst reports. UBS Group restated a “neutral” rating and issued a $50.00 target price (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Guggenheim raised their target price on shares of SOLV Energy from $37.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $32.00 target price on the stock. Wall Street Zen upgraded shares of SOLV Energy to a “hold” rating in a report on Sunday, February 22nd. Finally, Roth Mkm initiated coverage on shares of SOLV Energy in a report on Monday, March 9th. They issued a “buy” rating and a $35.00 price target on the stock. Ten investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $40.00.

SOLV Energy Stock Performance

The business’s fifty day simple moving average is $35.14.

SOLV Energy (NASDAQ:MWH) last released its quarterly 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 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.