SOLV Energy (NASDAQ:MWH) Shares Gap Down - Here's Why

Key Points

• SOLV Energy shares fell 8%, opening at $28.60 after closing at $29.97 and later trading near $27.93, below the stock’s 50-day moving average of $30.47.
• The company reported quarterly EPS of $0.30, exceeding the $0.26 consensus estimate, while revenue rose 77.4% year over year to $951.24 million.
• Analyst sentiment remains positive overall, with a “Moderate Buy” consensus rating and an average price target of $39.64, despite mixed target-price revisions.

SOLV Energy Inc. (NASDAQ:MWH - Get Free Report)'s share price gapped down prior to trading on Thursday . The stock had previously closed at $29.97, but opened at $28.60. SOLV Energy shares last traded at $27.9250, with a volume of 573,929 shares.

Wall Street Analyst Weigh In

MWH has been the subject of a number of analyst reports. Robert W. Baird lowered their target price on shares of SOLV Energy from $50.00 to $42.00 and set an "outperform" rating for the company in a research note on Friday, August 14th. Canadian Imperial Bank of Commerce reaffirmed an "outperform" rating and set a $42.00 price target on shares of SOLV Energy in a research report on Friday, August 14th. Weiss Ratings raised SOLV Energy from a "sell (d)" rating to a "sell (d+)" rating in a research report on Friday, August 14th. UBS Group reissued a "neutral" rating and issued a $50.00 price objective (up from $42.00) on shares of SOLV Energy in a research note on Thursday, May 14th. Finally, KeyCorp raised their target price on SOLV Energy from $36.00 to $50.00 and gave the stock an "overweight" rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, ten have issued a Buy rating, one has given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, SOLV Energy presently has an average rating of "Moderate Buy" and an average price target of $39.64.

SOLV Energy Stock Down 8.0%

The company has a debt-to-equity ratio of 0.07, a quick ratio of 1.06 and a current ratio of 1.09. The business has a 50-day moving average price of $30.47. The company has a market capitalization of $3.42 billion and a price-to-earnings ratio of 91.87.

SOLV Energy (NASDAQ:MWH - Get Free Report) last released its quarterly earnings data on Thursday, August 13th. The company reported $0.30 earnings per share for the quarter, beating analysts' consensus estimates of $0.26 by $0.04. The business had revenue of $951.24 million during the quarter. The firm's revenue for the quarter was up 77.4% compared to the same quarter last year. As a group, analysts forecast that SOLV Energy Inc. will post 1.3 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in MWH. Bank of New York Mellon Corp lifted its stake in SOLV Energy by 697.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 98,660 shares of the company's stock valued at $3,359,000 after acquiring an additional 86,290 shares during the period. Neumeier Poma Investment Counsel LLC bought a new stake in SOLV Energy in the 2nd quarter worth approximately $18,320,262,000. Public Employees Retirement System of Ohio bought a new stake in SOLV Energy during the second quarter worth approximately $375,000. Finally, Wellington Management Group LLP bought a new stake in shares of SOLV Energy in the 2nd quarter worth about $4,852,000.

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.

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