Primoris Services ( (PRIM) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Primoris shares moved as investors weighed fresh details on project costs against signs of growing demand in key markets. The company revealed that six troubled solar projects led to about $110 million in cost overruns and timing setbacks, clouding near‑term margins but clarifying the extent of the issues.
At the same time, management highlighted stronger momentum in its Utilities and pipeline business, along with rising work in battery energy storage systems and data centers, and reaffirmed its full‑year targets. KeyBanc responded by slightly cutting its price target while maintaining an Overweight rating, signaling continued confidence in the stock’s longer‑term upside.
More about Primoris Services
YTD Price Performance: -18.41%
Average Trading Volume: 1,032,224
Technical Sentiment Signal: Hold
Current Market Cap: $5.49B
For further insights into PRIM stock on TipRanks’ Stock Analysis page.
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