SOLV Energy Inc.’s Lock-Up Period Set To End on August 10th (NASDAQ:MWH)

SOLV Energy’s (NASDAQ:MWH) lock-up period is set to end on Monday, August 10th. SOLV Energy had issued 20,500,000 shares in its initial public offering on February 11th. The total size of the offering was $512,500,000 based on an initial share price of $25.00. After the end of SOLV Energy’s lock-up period, company insiders and major shareholders will be able to sell their shares of the company.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on MWH shares. Robert W. Baird raised their target price on SOLV Energy from $36.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, May 13th. UBS Group reissued a “neutral” rating and set a $50.00 price target (up from $42.00) on shares of SOLV Energy in a report on Thursday, May 14th. Canadian Imperial Bank of Commerce raised their price objective on SOLV Energy from $37.00 to $38.00 and gave the stock an “outperformer” rating in a research note on Monday, April 20th. KeyCorp lifted their price objective on SOLV Energy from $36.00 to $50.00 and gave the company an “overweight” rating in a research report on Wednesday, May 13th. Finally, Guggenheim boosted their price objective on SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, May 26th. Ten research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $40.00.

SOLV Energy Price Performance

Shares of SOLV Energy stock opened at $27.66 on Friday. The company’s 50 day moving average price is $31.10. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.06 and a quick ratio of 1.06. SOLV Energy has a 12 month low of $23.83 and a 12 month high of $48.40.

Institutional Trading of SOLV Energy

An institutional investor recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp increased its stake in SOLV Energy Inc. (NASDAQ:MWH) by 697.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 98,660 shares of the company’s stock after buying an additional 86,290 shares during the quarter. Bank of New York Mellon Corp owned about 0.08% of SOLV Energy worth $3,359,000 as of its most recent SEC filing.

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.