NEW YORK (TheStreet) -- Shares of InterCloud Systems (ICLD) are jumping 9.1% to $2.88 in Wednesday's mid-day trading session after the company said that it is launching "Airwave as a Service," a new cloud service.
The New Jersey-based company is a provider of cloud networking orchestration and automation solutions and services.
"We were able to deploy this product with a global executive consulting firm specializing in CXO with 44 offices around the world," CEO Mark Munro stated.
The launch leverages the company's IaaS private cloud infrastructure and Aruba Networks' premier wireless network deployment and management software. The new cloud services will give clients the ability to "more rapidly deploy wireless networks with low or no touch, with the elasticity of the cloud, anytime, from anywhere," according to the company.
Services can be ordered in 36, 48, or 60 month terms, the company added.
Separately, 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 deteriorating net income, disappointing return on equity and generally disappointing historical performance in the stock itself."
Highlights from the analysis by TheStreet Ratings Team goes as follows: