BWX Technologies Stock Rises Following Department of Energy Grant Announcement

BWX Technologies (BWXT) stock surged 3.5% as the US Department of Energy awarded $400 million to the Tennessee Valley Authority for the deployment of new advanced light-water small modular reactors at the Clinch River site. BWX will assist with the project, which aims to deploy America's first-ever Gen III+ SMR. The company's shares cost more than 52 times earnings, and analysts expect 12% annual earnings growth over the next five years, making BWX stock still seem expensive.