By late morning, shares had taken off 22% to $6.04. Trading volume of 1.2 million had exceeded its three-month daily average of 716,793 shares.
The telecom technology provider recorded an adjusted net loss of $3.24 a share compared with a net loss of 91 cents a share in the year-ago quarter. Losses included charges such as $13.7 million related to derivative liabilities, $1.8 million in one-time consulting fees and $2.4 million in stock-based compensation.
In the three months to December, Shrewsbury, N.J.-based InterCloud posted a 5.4% year-over-year increase in revenue to $11.8 million.
Must Read: Warren Buffett's 10 Favorite Growth Stocks
TheStreet Ratings team rates INTERCLOUD SYSTEMS INC as a Sell with a ratings score of D. TheStreet Ratings Team has this to say about their recommendation:
"We rate INTERCLOUD SYSTEMS INC (ICLD) a SELL. This is driven by a few notable weaknesses, 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 poor profit margins and generally high debt management risk."
- You can view the full analysis from the report here: ICLD Ratings Report