Orion Group Holdings, Inc. (ORN) shares surged by 13% on Friday following the company's announcement of securing a contract worth nearly $80 million from Port Everglades Seaport Engineering & Construction Division through Moss Construction for the Port Everglades Bulkhead Replacement Project.
ORN is currently trading on the New York Stock Exchange at $8.68, up 13.17% or $1.01 per share. It has traded between $2.38 and $9.84 in the past 52-week period.
The project involves replacing around 2,240 linear feet of old steel sheet pile bulkheads, including large-diameter combi-wall systems, soil anchors, and encapsulated concrete caps.
Additionally, it will focus on the aging North Bulkhead at the Entrance Channel, which covers a distance of 1,200 feet and plays a crucial role in ensuring the safe and efficient movement of maritime traffic.
The project will start on June 1 and is expected to finish in late 2026.
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