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InterCloud Systems Inc (NASDAQ:ICLD) Reports Growth in Backlog Business and Announces a New Product

InterCloud Systems Inc (NASDAQ:ICLD) has been reporting quite a lot of success in terms of acquiring contracts in this quarter. The company announced that its business backlog is at a high of more than $36 million. The growth has resulted in increased confidence from investors like 31 Group LLC. The group now owns 9.751% of the shares in InterCloud. To further make things interesting, the company also launched its new NFVGrid platform.

ICLD has been registering a constant increase in the market, with a number of funds showing special interest in the company. The newly launched NFVGrid makes use of Open APIs to ensure that the platform is compatible with a range of different Oss. Additionally, the APIs are also compatible with other products from the company. InterCloud CEO, Mark Munro, remarked that the NFVGrid is a breakthrough for his company. He also pointed out to the Infonetics forecast that the NFV and SDN market would reach $11 billion by 2018. He stated that his company is positioned to make the most of that situation.

Recently, 5 funds newly opened positions in InterCloud, with 3 more increasing the size of their holdings. It seems as though the funds see potential in the company’s products that analysts fail to see. Analysts state that InterCloud has poor profit margins, a weak operating cash flow and a disappointing stock performance.

However, it seems that the analysts are not looking at the bigger picture here, the company, in the last 12-months has reported a huge increase in terms of its backlog business. Most of this business is comprised of fortune-100 companies and large enterprises that highly depend on InterCloud services. The historic stock performance just might be up for a big change in the near future.

InterCloud Systems Inc (NASDAQ:ICLD) closed at $4.45, after gaining 12.37% on May 11. The company has 18.48 million shares being traded in the market with a 52-week range of $1.45-$7.89.

Published by Lisa Ray

Lisa has a Bachelor of Arts in journalism from Purdue University and 3 years of experience in the publishing field.

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