Premier Alliance Group (PIMO) pushed the dollar mark late last year after a flurry of encouraging company events and news announcements circulated the wires, and another round of interest may be forming again after a Monday press release announced that the Orange County, California municipality had requested the services of Premier to assist in implementing Southern California Edison's (SCE) Automated Demand Response program (Auto-DR).
Premier - and its GreenHouse division - have become recognized experts in regards to the program's implementation and the company has already successfully assisted other municipalities in Southern California putting Auto-DR into effect.
Volume flowed into PIMO trading just after mid day on Monday to the tune of more than triple the daily norm, which led to a quick price spike. Shares reached as high as seventy two cents during the run, a 44% price increase over the open.
In response to Premier's selection by the Orange County municipality, John Galt, President over Solutions, noted that, "Municipalities are in a great position to take advantage of SCE's program and we're very pleased Premier was selected for this opportunity."
Senior Vice President of Energy Services for Premier Alliance, Rob Davis, added that, "Once complete, this forward thinking city will have the ability to shed enough power to support 50 average California households, but without causing significant disruption to their own day-to-day business activities."
Each such contract for Premier boosts its credibility and reputation in the sector, which increases the chances of landing similar deals.
The company also has a foothold with the Department of Defense in California, having provided two energy audits for large military bases. The audits are believed to be the first of a kind on such a grand scale and are a demonstration of the company's diversity and flexibility, key qualities to possess for a company on the verge of taking its business to the next level.
Consistent volume, as seen on Monday, could lead to another push back to a dollar for PIMO, and interest could continue to grow as the company lands more deals like the one announced on Monday.
Still a solid growth story.
Disclosure: Long PIMO. VFC's Stock House was previously compensated to cover Premier Alliance for 30 days, but is no longer under contract to do so.
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