NEW YORK (TheStreet) -- PowerSecure (POWR)  stock is plunging after the company's first-quarter earnings came in far below analyst estimates.

By late morning, shares have plummeted 61.2% to $7.22. 

Over the three months to March, the company reported a net loss of 17 cents a share and revenue of $52.8 million. Analysts surveyed by Thomson Reuters expected profits of 2 cents a share and revenue of $59.33 million. 

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Additionally, PowerSecure expects a second-quarter net loss between 15 cents and 9 cents a share. Analysts had expected profits of 15 cents. 

TheStreet Recommends

TheStreet Ratings team rates POWERSECURE INTL INC as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation:

"We rate POWERSECURE INTL INC (POWR) a BUY. This is driven by several positive factors, which we believe should have a greater impact than any weaknesses, and should give investors a better performance opportunity than most stocks we cover. The company's strengths can be seen in multiple areas, such as its robust revenue growth, largely solid financial position with reasonable debt levels by most measures, good cash flow from operations, solid stock price performance and notable return on equity. We feel these strengths outweigh the fact that the company has had sub par growth in net income."

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