Shares Of Perma-Fix Environmental Services Gain On Strong Volume Following Contract Win With U.S. Navy

Shares of Perma-Fix Environmental Services, Inc. (NASDAQ: PESI), a nuclear services company and provider of nuclear and mixed waste management services, surged higher on Wednesday following the announcement of a contract win.

Perma-Fix Environmental Services said that it was selected by the U.S. Navy for a $240 million, five-year contract for environmental remediation services at various installations across the U.S.

The company noted that contract win is part of the Long-Term Environmental Action Navy (CLEAN) initiative.

Dr. Louis F. Centofanti, Chief Executive Officer, stated, "Perma-Fix is uniquely qualified for this project with over 20 years of experience characterizing, remediating and surveying radioactive material impacted sites. With our vast waste characterization and treatment knowledge and experience, we are able to provide a comprehensive solution for site and environmental remediation projects, including turn-key radiological services, from characterization through facility decommissioning and decontamination and final status surveys. This contract is another example of the growing opportunities in our Services Segment."

Shares of Perma-Fix Environmental Services were trading higher by nearly 6 percent at $3.92 late Wednesday morning on heavier than normal volume.