Orbital Energy Group, Inc. To Join Russell Microcap® Index

Rhea-AI Summary

Orbital Energy Group (OEG) is set to join the Russell Microcap® Index effective June 28, 2021, following the annual reconstitution. This inclusion is anticipated to increase the company's visibility among institutional investors, potentially enhancing liquidity for shareholders. Russell indexes are significant benchmarks in the investment landscape, managing around $10.6 trillion in assets. OEG aims to create a diversified energy services platform, focusing on sectors like power, solar, and telecom services, which positions the company for future growth.

Positive

• Inclusion in the Russell Microcap Index could enhance visibility and awareness among institutional investors.
• Expected improvement in liquidity for shareholders due to increased interest.

Negative

• None.

HOUSTON, June 17, 2021 /PRNewswire/ -- Orbital Energy Group, Inc. (NASDAQ: OEG) ("OEG") today announced that it is set to join the Russell Microcap^® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, 2021, according to a preliminary list of additions published by the FTSE Russell on June 4, 2021.

Membership in the Russell Microcap^® Index, which remains in place for one year, means automatic inclusion in the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

"Orbital Energy Group's addition to this highly respected index is another milestone for the Company," explained Jim O'Neil, Orbital Energy Group's Vice-Chairman & CEO.  "Inclusion in the Russell Microcap Index will enhance awareness of OEG to a larger number of institutions and investors, benefitting our shareholders with improved liquidity."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell's US indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell Microcap^® Index and the Russell indexes reconstitution, go to the "Russell Reconstitution" section on the FTSE Russell website.

About Orbital Energy Group 
Orbital Energy Group, Inc. (Nasdaq: OEG) is creating a diversified energy services platform through the acquisition and development of innovative companies. Orbital Energy's group of businesses includes Orbital Power Services, Orbital Solar Services, Orbital Telecom Services and Orbital Gas Systems. Orbital Power Services provides engineering, construction, maintenance and emergency response solutions to the power, utilities, and midstream markets.

Orbital Solar Services provides engineering, procurement, and construction ("EPC") expertise in the renewable energy industry and established relationships with solar developers and panel manufacturers in the utility scale solar market.

Orbital Telecom Services, operating as Gibson Technical Services, has nationwide locations equipped to effectively support multi-vendor OEM technology environments and outside plant construction operations on an as-needed basis with specialized services in broadband, wireless, outside plant and building technologies, including healthcare.

Orbital Gas Systems is a 30-year leader in innovative gas solutions, serving the energy, power and processing markets through the design, installation and commissioning of industrial gas sampling, measurement, and delivery systems.

As a publicly traded company, Orbital Energy is dedicated to maximizing shareholder value. But most important, our commitment to conduct business with a high level of integrity, respect, and philanthropic dedication allows the organization to make a difference in the lives of their customers, employees, investors, and global community.

For more information please visit: www.orbitalenergygroup.com 

About FTSE Russell: 
FTSE Russell is a global index leader that provides innovative benchmarking, analytics and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering 98% of the investable market globally.

FTSE Russell index expertise and products are used extensively by institutional and retail investors globally. Approximately $17.9 trillion is currently benchmarked to FTSE Russell indexes. For over 30 years, leading asset owners, asset managers, ETF providers and investment banks have chosen FTSE Russell indexes to benchmark their investment performance and create ETFs, structured products and index-based derivatives.

A core set of universal principles guides FTSE Russell index design and management: a transparent rules-based methodology is informed by independent committees of leading market participants. FTSE Russell is focused on applying the highest industry standards in index design and governance and embraces the IOSCO Principles. FTSE Russell is also focused on index innovation and customer partnerships as it seeks to enhance the breadth, depth and reach of its offering.

FTSE Russell is wholly owned by London Stock Exchange Group.

For more information, visit www.ftserussell.com.

Important Cautions Regarding Forward Looking Statements 
This document contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are subject to risks and uncertainties that could cause actual results to vary materially from those projected in the forward-looking statements. The Company may experience significant fluctuations in future operating results due to a number of economic, competitive, and other factors, including, among other things, our reliance on third-party manufacturers and suppliers, government agency budgetary and political constraints, new or increased competition, changes in market demand, and the performance or reliability of our products. These factors and others could cause operating results to vary significantly from those in prior periods, and those projected in forward-looking statements. Additional information regarding these and other factors, which could materially affect the Company and its operations, are included in certain forms the Company has filed with the Securities and Exchange Commission.

Investor Relations:
KCSA Strategic Communications
David Hanover
T: 212-896-1220
orbital@kcsa.com   

 

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SOURCE Orbital Energy Group, Inc.

FAQ

What is the impact of Orbital Energy Group joining the Russell Microcap Index?

Joining the Russell Microcap Index may enhance visibility and liquidity for Orbital Energy Group, attracting institutional investors.

When will Orbital Energy Group join the Russell Microcap Index?

Orbital Energy Group will join the Russell Microcap Index on June 28, 2021.

What does membership in the Russell Microcap Index mean for OEG?

Membership means OEG will be included in growth and value style indexes, potentially increasing interest from investment managers.

How significant are Russell indexes in the investment industry?

Russell indexes manage approximately $10.6 trillion in assets and are widely used for benchmarking by institutional investors.

What is Orbital Energy Group's business focus?

Orbital Energy Group focuses on creating a diversified energy services platform, including power, solar, telecom, and gas solutions.