Shares of Orbital Energy Group Inc. rocketed 76.7% on record volume in afternoon trading Tuesday, after the Texas based diversified energy platform, which operates in the electric power and solar infrastructure services businesses, said its Gibson Technical Services subsidiary was awarded a project for about 700 miles of engineering and construction services across Central Mississippi. The stock is on track for the biggest one-day rally in 10 years, and trading volume of 173.0 million shares is the most since the company went public in October 1997. The full-day average volume over the past 30 days was 1.4 million shares. Orbital said the project is to be completed over the next four years for TEC of Jackson Inc. Construction is scheduled to begin this month. The project is being funded by TEC and the Federal government’s Rural Digital Opportunity Fund (RDOF). “The award of this project from such a well-respected telecommunication service provider as TEC confirms GTS’s ability to deliver the highest quality engineering and construction services,” Orbital Chief Executive Mike McCracken said. The stock has nearly tripled (up 186.4%) year to date, while the S&P 500 has gained 12.0%.
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