Stock Alert: Energy Alternatives Hits New High

Shares of Infrastructure and Energy Alternatives, Inc. (IEA), an infrastructure construction company with renewable energy and specialty civil expertise, are climbing more than 14% Tuesday morning at $6.75.

The stock hit a new high of $6.70 this morning.

In the June quarter, the company’s revenue had increased 46.5% year-over-year at $480.6 million.

The company said it had only limited impact from COVID-19.

IEA had raised its full-year revenue guidance to the range of $1.6 billion to $1.7 billion from the previous guidance of $1.5 billion to $1.65 billion. The consensus estimate is for $1.71 billion.

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