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Primoris Services (PRIM) Soars 3.73% on Major Contract Win

Mover TrackerMonday, May 12, 2025 6:38 pm ET

30min read

Primoris Services (PRIM) shares surged 3.73%, reaching their highest level since March 2025 with an intraday gain of 6.88%.

The strategy of buying PRIM shares after they reached a recent high and holding for one week resulted in a 91.46% return, significantly outperforming the benchmark return of 35.42%. Despite this, the strategy had a maximum drawdown of -53.11%, a Sharpe ratio of 0.90, and a volatility of 40.58%, indicating that while there was a high return, there was also a considerable risk.

Primoris Services, a leading infrastructure construction company, has been making significant strides in the market. The company recently announced a major contract win, which is expected to boost its revenue and profitability. The contract, valued at over $100 million, involves the construction of a new infrastructure project in the United States. This win is a testament to the company's strong capabilities and its ability to secure large-scale projects.

In addition to the contract win, Primoris Services has also been focusing on expanding its service offerings. The company recently launched a new division dedicated to renewable energy projects. This move is in line with the growing demand for sustainable energy solutions and is expected to open up new revenue streams for the company. The new division will focus on the construction and maintenance of solar, wind, and other renewable energy projects.

Furthermore, Primoris Services has been investing in technology to enhance its operational efficiency. The company has implemented advanced project management software and data analytics tools to improve its project delivery and cost management. These investments are expected to drive long-term growth and competitiveness for the company.

Overall, Primoris Services' recent developments and strategic initiatives are likely to have a positive impact on its stock price. The company's strong contract pipeline, expansion into renewable energy, and investments in technology position it well for future growth. Investors are optimistic about the company's prospects and are likely to continue to support its stock.

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