Why Perma-Fix Environmental Shares Are Falling Today

April 14, 2023 10:12 AM | 1 min read |

Perma-Fix Environmental Services, Inc PESI shares are down Friday morning following the disclosure about the loss of the U.S. Department of Energy's ITDC contract bid.
PESI was advised by the Office of Environmental Management that its team was not awarded the Integrated Tank Disposition Contract (ITDC).
PESI has secured eight new contracts in recent months. The contracts total ~$15 million of revenue that is expected to be recognized in 2023.
These contracts increased PESI's existing backlog in both the Services and Treatment Segments.
The contracts also include option phases with a potential value of more than $14 million that might stretch up to 2024.
Price Action: PESI shares are trading lower by 15.35% at $8.27 on the last check Friday.

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