COLUMBIA, Md. (
Fortress International Group
shares rallied sharply higher Monday on heavy volume after the construction management company said it received $39.4 million in new contracts.
Fortress International said it has been awarded six contracts totaling approximately $39.4 million spanning all three of its divisions -- technology consulting, construction management and facilities management. Including the new project awards, Fortress International said it has closed $46.5 million in new business since the end of the second quarter.
Shares of Fortress International were jumping by 42 cents, or 100%, to 84 cents. Earlier in the session, the stock touched an intraday high of 97 cents. More than 2.1 million shares changed hands by 11 a.m. EDT Monday, compared to the stock's 50-day average daily volume of 82,000, according to the
Fortress International has a 4.5 million-share float with a short interest float of only 0.5% as of Sept. 25, according to Yahoo! Finance. More than 61% of the company's shares are held by insiders with another 4.9% owned by institutions.
Read more about today's high-volume stocks like Shiner International in earlier "Pump Up the Volume" posts
-- Written by Robert Holmes in New York