SOLV Energy (NASDAQ:MWH) Hits New 12-Month Low - Should You Sell?

Key Points

• SOLV Energy shares hit a new 52-week low, trading as low as $23.12 and last changing hands at $23.46, well below the 50-day and 200-day moving averages.
• Analyst sentiment remains cautiously positive, with a “Moderate Buy” consensus from 13 analysts and an average price target of $38.55, despite several recent target and rating reductions.
• The company exceeded quarterly EPS expectations, reporting $0.30 versus the $0.26 consensus, while revenue rose 77.4% year over year to $951.24 million; however, the stock carries a high P/E ratio of 80.48.

SOLV Energy Inc. (NASDAQ:MWH - Get Free Report) reached a new 52-week low on Thursday. The stock traded as low as $23.12 and last traded at $23.46, with a volume of 80,686 shares changing hands. The stock had previously closed at $24.30.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on MWH shares. Zacks Research cut shares of SOLV Energy from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, September 8th. Robert W. Baird dropped their price objective on shares of SOLV Energy from $50.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, August 14th. KeyCorp dropped their price objective on shares of SOLV Energy from $43.00 to $35.00 and set an "overweight" rating for the company in a report on Thursday. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $42.00 target price on shares of SOLV Energy in a research note on Friday, August 14th. Finally, Weiss Ratings lowered shares of SOLV Energy from a "sell (d+)" rating to a "sell (d)" rating in a report on Friday, September 25th. Ten research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, SOLV Energy currently has an average rating of "Moderate Buy" and an average price target of $38.55.

SOLV Energy Price Performance

The stock has a market capitalization of $4.87 billion and a price-to-earnings ratio of 80.48. The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.09 and a current ratio of 1.09. The company has a 50 day moving average of $26.69 and a 200 day moving average of $31.22.

SOLV Energy (NASDAQ:MWH - Get Free Report) last posted its quarterly earnings results on Thursday, August 13th. The company reported $0.30 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. The company had revenue of $951.24 million during the quarter. The company's revenue for the quarter was up 77.4% on a year-over-year basis. As a group, equities research analysts anticipate that SOLV Energy Inc. will post 1.28 EPS for the current year.

Institutional Trading of SOLV Energy

A number of large investors have recently made changes to their positions in the company. Sax Wealth Advisors LLC purchased a new position in SOLV Energy in the third quarter worth approximately $354,000. GAMMA Investing LLC grew its holdings in SOLV Energy by 4,255.2% during the 3rd quarter. GAMMA Investing LLC now owns 1,263 shares of the company's stock worth $30,000 after acquiring an additional 1,234 shares in the last quarter. Green Alpha Advisors LLC acquired a new position in SOLV Energy during the 3rd quarter worth approximately $1,092,000. Tidal Investments LLC purchased a new stake in shares of SOLV Energy in the 2nd quarter valued at approximately $1,675,000. Finally, Maven Securities LTD purchased a new stake in shares of SOLV Energy in the 2nd quarter valued at approximately $535,000.

About SOLV Energy

SOLV Energy is a renewable-energy services company focused on the development, construction, operation and maintenance of utility-scale solar power and energy-storage projects. The company provides engineering, procurement and construction services, helping project owners design and build large photovoltaic generation facilities and battery-storage systems.

In addition to project construction, SOLV Energy offers operations and maintenance, asset management, monitoring and technical services intended to support the long-term performance and reliability of renewable-energy assets.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.