InterCloud Systems (NASDAQ: ICLD)
InterCloud Systems is a New Jersey based single source provider of end to end information technology and next generation network solutions. InterCloud provides professional services, cloud and managed services and infrastructure and applications to assist its customers in meeting their technology demands.
ICLD is a top producer of cloud networking orchestration and automation solutions and services. Today it was announced that it was recently awarded over $2.3 million in next generation Wi-Fi and DAS networks from existing and new clients. Yahoo Finance
ICLD Earnings and Outlook
This morning, InterCloud Systems shares are higher by almost 9% to $2.24 in pre-market trading. This is due to the announcement that they were recently awarded over $2.3 million in next generation Wi-Fi and DAS networks from existing and new clients. They believe the work on these projects will be completed between the third and fourth quarters later this year. Wall Street Pit
We will have to see what Q3 and Q4 bring, but it seems like ICLD is a rising star in the technology world.
InterCloud Systems CEO Comments
“The new contracts from existing customers support that InterCloud continues to deliver industry leading solutions to our demanding customers. The addition of new customers also validates our company’s broad platform of services. Our management team remains focused on continuing to build a portfolio of next-generation IT services that will keep InterCloud competitive over the next several years as the IT industry continues to build momentum in cloud and managed services. Customers are in need of companies like InterCloud that can deliver leading edge solutions in cloud today and also assist them in navigating through this disruption and confusion in the marketplace.” said Mark Munro, CEO of Intercloud Systems Yahoo Finance
ICLD gapped up today to the price of 2.28 from yesterday’s close of 2.06 which is a 10% increase due to favorable news. Taking a look at the daily chart the stock had an impressive run after if it hit its yearly low $1.45 on April 30. The next two weeks the stock ran to a high of $4.73 on May 11, which is a 326% increase. This is due to the May 4th announcement of a new product a network functions virtualization orchestration platform which makes the company more competitive in its industry. Since those highs the company has sold off till it reached yesterday’s low. The stock has a low float of 17 million shares so it has the ability to run at the opening bell. Look for it to crack the pre-market highs of $2.30 for first entry point. The next resistance level would be last weeks high of $2.67 on july 10. If the stock can continue its move beyond that point the next resistance level would be the highs on June 25 of $3.31, that price level will be a significant level of resistance as it was a double top formation on June 25 and June 3.
InterCloud Systems, Inc. provides end-to-end IT and network solutions to the telecommunications service provider and corporate enterprise markets through cloud platforms and professional services in the United States and internationally. It operates through three segments: Applications and Infrastructure, Professional Services, and Cloud and Managed Services. The company offers cloud-based services, including platform as a service, infrastructure as a service, database as a service, and software as a service; and managed services, such as network management, 24x7x365 monitoring, security monitoring, and storage and backup services. It also provides a range of applications and services, such as unified communications, interactive voice response, and session initiation protocol based call centers, as well as offers structured cabling and other field installations. In addition, the company designs, engineers, installs, and maintains various types of Wi-Fi and wide-area, distributed antenna system, and small cell distribution networks for incumbent local exchange carriers, telecommunications original equipment manufacturers (OEMs), cable broadband multiple system operators, and enterprise customers, as well as designs, installs, and maintains hardware solutions for the OEMs that support voice, data, and optical networks. Further, it provides consulting and professional staffing solutions to the service-provider and enterprise market in support of IT and next-generation networks facets comprising project management, network implementation, network installation, network upgrades, rebuilds, maintenance, and consulting services. Additionally, the companys engineering, design, installation, and maintenance services support the build-out and operation of enterprise, fiber optic, Ethernet, and wireless networks. InterCloud Systems, Inc. was founded in 2006 and is headquartered in Shrewsbury, New Jersey. Yahoo! Finance