The awards come from both modified and new agreements with four separate utilities.
"These significant contract awards extend Lime Energy's leadership position in providing small business solutions to US utilities. Our ability to cost effectively bring energy efficiency at scale to this customer segment while driving high customer satisfaction is proving to be of tremendous value to the utility of the future," said President and CEO Adam Procell in a statement. "The market for delivering energy efficiency resources is presenting Lime with great opportunity for growth and these awards are evidence of Lime's continued ability to secure new utility contracts while expanding with existing clients."
The stock was up 152.36% to $5.35 at 2:41 p.m. More than 5.2 million shares had changed hands, which dwarfed the average volume of 10,075.
Separately, TheStreet Ratings team rates LIME ENERGY CO as a Sell with a ratings score of D-. TheStreet Ratings Team has this to say about their recommendation:
"We rate LIME ENERGY CO (LIME) a SELL. This is driven by some concerns, which we believe should have a greater impact than any strengths, and could make it more difficult for investors to achieve positive results compared to most of the stocks we cover. The company's weaknesses can be seen in multiple areas, such as its weak operating cash flow, poor profit margins and generally disappointing historical performance in the stock itself."