NV5 Awarded $20 Million Contract for Underground Power Lines in California
On January 16, NV5 Global, Inc. announced that the company has been awarded a new contact for the engineering design of underground power lines in California. The entire project is a multi-year, multi-phase project worth $20 million for NV5. It is part of an effort to mitigate fire risk and reduce service interruptions during windy conditions for California residents.
Jet Equities detected the news event at 8:00 am. The last trade had been for $52.79 at the close of market trading the previous day. The stock price spiked up towards $57 following the announcement, and it continued to push higher over the next three trading sessions. NV5 closed at $60.14 on January 23 for a gain of 13.9% over four days.
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