SOLV Energy Inc.’s (NASDAQ:MWH) Lock-Up Period Will End Tomorrow

SOLV Energy’s (NASDAQ:MWH) lock-up period will 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. Shares of the company owned by major shareholders and company insiders will be eligible for trade following the expiration of the lock-up period.

Analysts Set New Price Targets

MWH has been the subject of several research reports. Weiss Ratings started coverage on shares of SOLV Energy in a research report on Wednesday, June 3rd. They set a “sell (d)” rating for the company. KeyCorp raised their price objective on shares of SOLV Energy from $36.00 to $50.00 and gave the stock an “overweight” rating in a report on Wednesday, May 13th. UBS Group restated a “neutral” rating and set a $50.00 target price (up from $42.00) on shares of SOLV Energy in a research report on Thursday, May 14th. Guggenheim upped their target price on shares of SOLV Energy from $37.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, May 26th. Finally, Robert W. Baird increased their price target on shares of SOLV Energy from $36.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 13th. Ten investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $40.00.

SOLV Energy Trading Up 5.0%

NASDAQ MWH opened at $29.03 on Friday. The firm’s fifty day moving average is $30.97. SOLV Energy has a fifty-two week low of $23.83 and a fifty-two week high of $48.40. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.07.

Hedge Funds Weigh In On SOLV Energy

An institutional investor recently raised its position in SOLV Energy stock. Bank of New York Mellon Corp grew its position 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 and Exchange Commission (SEC). The firm owned 98,660 shares of the company’s stock after purchasing an additional 86,290 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.08% of SOLV Energy worth $3,359,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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.