SOLV Energy (NASDAQ:MWH) Sets New 1-Year Low - Should You Sell?

Key Points

• SOLV Energy shares hit a new 52-week low, falling 5.5% to approximately $23.80, below both the 50-day moving average of $27.40 and the 200-day average of $31.55.
• Despite the decline, analysts maintain a consensus “Moderate Buy” rating with a $39.91 price target; 10 analysts rate the stock Buy, two Hold, and one Sell.
• The company recently beat quarterly earnings expectations, reporting $0.30 EPS versus $0.26 expected, while revenue rose 77.4% year over year to $951.24 million. Several institutional investors also initiated or increased positions.

SOLV Energy Inc. (NASDAQ:MWH - Get Free Report)'s stock price hit a new 52-week low on Monday. The stock traded as low as $23.80 and last traded at $23.86, with a volume of 302879 shares changing hands. The stock had previously closed at $25.20.

Wall Street Analyst Weigh In

Several research firms have commented on MWH. Canadian Imperial Bank of Commerce restated an "outperform" rating and issued a $42.00 target price on shares of SOLV Energy in a research report on Friday, August 14th. Zacks Research cut SOLV Energy from a "strong-buy" rating to a "hold" rating in a report on Tuesday, September 8th. Robert W. Baird reduced their price objective on SOLV Energy from $50.00 to $42.00 and set an "outperform" rating for the company in a research report on Friday, August 14th. TD Cowen increased their price objective on SOLV Energy from $32.00 to $35.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Finally, Weiss Ratings upgraded SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. Ten equities 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 data from MarketBeat, SOLV Energy has a consensus rating of "Moderate Buy" and a consensus price target of $39.91.

SOLV Energy Stock Down 5.5%

The firm's fifty day moving average is $27.40 and its two-hundred day moving average is $31.55. The firm has a market cap of $4.82 billion and a price-to-earnings ratio of 79.37. The company has a debt-to-equity ratio of 0.07, a current ratio of 1.09 and a quick ratio of 1.09.

SOLV Energy (NASDAQ:MWH - Get Free Report) last released its earnings results on Thursday, August 13th. The company reported $0.30 EPS for the quarter, beating the consensus estimate of $0.26 by $0.04. The company had revenue of $951.24 million for the quarter. The business's revenue was up 77.4% on a year-over-year basis. On average, sell-side analysts expect that SOLV Energy Inc. will post 1.28 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. American Securities LLC bought a new position in shares of SOLV Energy in the second quarter valued at $2,823,440,000. Neumeier Poma Investment Counsel LLC bought a new stake in shares of SOLV Energy during the 2nd quarter worth $18,320,262. Wellington Management Group LLP acquired a new position in shares of SOLV Energy in the 2nd quarter worth $4,852,000. Squarepoint Ops LLC acquired a new stake in shares of SOLV Energy during the second quarter worth $4,037,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of SOLV Energy by 697.6% during the second quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company's stock valued at $3,359,000 after purchasing an additional 86,290 shares during the last quarter.

About SOLV Energy

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.

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