PowerSecure International Stock Price Up 8% Following Strong Earnings (POWR)
PowerSecure International (NASDAQ:POWR)’s share price was up 8% on Thursday following a stronger than expected earnings report, StockRatingsNetwork reports. The company traded as high as $11.29 and last traded at $10.82, with a volume of 1,021,049 shares trading hands. The stock had previously closed at $10.02.
The company reported ($0.12) earnings per share for the quarter, beating the analysts’ consensus estimate of ($0.15) by $0.03. The company had revenue of $57.06 million for the quarter, compared to the consensus estimate of $57.50 million. During the same quarter last year, the company posted $0.12 earnings per share. PowerSecure International’s revenue was down 18.7% compared to the same quarter last year.
A number of analysts have recently weighed in on POWR shares. Analysts at Roth Capital upgraded shares of PowerSecure International from a “neutral” rating to a “buy” rating in a research note on Thursday. They now have a $14.00 price target on the stock, up previously from $10.00. Separately, analysts at Lake Street Capital upgraded shares of PowerSecure International from a “hold” rating to a “buy” rating in a research note on Thursday, June 26th. Finally, analysts at Craig Hallum upgraded shares of PowerSecure International from a “hold” rating to a “buy” rating in a research note on Wednesday, May 21st. They now have a $12.00 price target on the stock, down previously from $13.00. Two equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $18.25.
The stock’s 50-day moving average is $9.1 and its 200-day moving average is $15.75. The company’s market cap is $240.4 million.
PowerSecure International, Inc is a provider of products and services to electric utilities and to their commercial, institutional and industrial customers.
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