It sounds like POWR could be a turn around story from here. POWR has a new big client...they have to move, hire new staff (big expense but possibly big opportunity) On re read this doesn't sound as negative as I thought. Any honest opinions welcome...no position. I have owned POWR in the past and was a big believer. I am shocked and saddened today.
My heart felt sympathy to those that held through earnings. I was thinking to do so.
POWR PowerSecure downgraded to Hold at Maxim Group
Maxim Group downgrades POWR to Hold from Buy recommending investors move to the sidelines following 1Q14 results. Firm was blindsided by 1Q14's results, particularly given the cadence, backlog, and outlook provided following 4Q13 results back in March of this year. On the conference call, mgmt voiced that 1Q14's results were heavily impacted by a recent award from a utility services client, which brought with it a change in service territory. The new territory is 2x necessitating a large and expensive build-out in which POWR will likely lose existing well trained staff and be forced to hire and train new talent.