Stock Alert: Orion Group Shares Rise 24% In Premarket

(RTTNews) - Shares of Orion Group Holdings Inc. (ORN) are rising over 24% in pre-market today, after the company announced contract awards totaling about $17 million.

The company's Marine segment has been awarded two separate contracts to provide dredging services in the Corpus Christi Ship Channel in Corpus Christi, Texas. The first project, valued at about $10 million, was the result of a competitive bid to the US Army Corps of Engineers for the dredging of the Corpus Christi Ship Channel from the Inner Basin to the Viola Turning Basin.

The second project, valued at over $7 million, calls for the dredging of a marine terminal facility for a private client. The work for both projects would begin immediately and is scheduled to be completed in early 2021.

The stock has been trading in the range of $1.53 - $5.99 for the past one year, and closed Wednesday's trade at $3.28, up 35 cents or 11.95%. ORN is currently trading at $4.05, up 79 cents or 24.23%.