Becker Drapkin Management Cuts Stake in PowerSecure International Inc. (POWR)

Becker Drapkin Management, managed by Matthew Drapkin and Steven R. Becker, has reduced its stake in PowerSecure International Inc. (NYSE:POWR), a new amended filing with the U.S. Securities and Exchange Commission showed. Becker Drapkin Management holds 1.66 million shares of the company, equal to 7.4% of common stock outstanding, according to the filing. The position represents a decrease from 1.98 million shares the fund disclosed previously.

PowerSecure International, Inc. (POWR)

PowerSecure International Inc. (NYSE:POWR) is engaged in providing of utility and energy technologies to electric utilities, and their industrial, institutional and commercial customers. Last week, Becker Drapkin Management sold an aggregate of 1,500 covered call options relating to an aggregate of 150,000 shares of common stock.

In addition, the fund reported selling an aggregate of 727 covered call options relating to an aggregate of 72,700 common stock shares. The covered call options, which have an exercise price of $10 and expire in September 2014, were sold for an aggregate price of $210,420. The options may be exercised by the holders thereof prior to the expiration dates and if exercised, will be required to be settled with common stock owned by the fund, according to the filing.

PowerSecure International Inc. (NYSE: POWR) has recently said that it plans to vigorously defend against the claims made in securities class action lawsuits filed last month against the company and two of its officers. The company states that it has reviewed the complaints and views the allegations as meritless. Barry Kaplan of Wilson Sonsini Goodrich & Rosati will serve as lead defense counsel for the company and its officers, according to a statement.

For the first quarter of 2014, the company reported a 17.4% in revenues to $52.8 million, compared to around $45.0 million in the same quarter of 2013. Diluted earnings per share (EPS) reduced to a loss of $0.19 in the first quarter, compared to income of $0.04 in 1Q 2013.

PowerSecure International Inc. (NYSE: POWR) has a market cap of $217.4 million. Shares of the company traded up on Monday by 1.57% to $9.73. The consensus average target price for the stock is $16.20, while the consensus average recommendation is ‘Overweight.’

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 52 percentage points in 24 months. Our beta is only 1.2 (don't click this link if beating the market isn't important to you).

Lists

Eyes in the Sky: 10 Things You Need to Know About Drones

Rising Stars: The 6 Best Silicon Valley Startups

Military Muscle: The 5 Most Advanced Armies in South America

All that Glitters: The 7 Most Luxurious Jewelry Brands in the World

5 Things You Didn’t Know About ISIS but Should

Empowering Your Money: The 5 Best Energy Stocks to Invest In

The 11 Best Android Apps You Can’t Get on iOS

The 10 Most Important International Conflicts in 2014

Mood Enhancers: The 20 Most Uplifting Songs of all Time

Lover Beware: The 8 Countries that Cheat the Most

Breath of Fresh Air: The 25 Countries with the Best Air Quality on the Planet

Singles Beware: The 8 Worst Mistakes Made on First Dates

Healthy and Happy: The 10 Countries with Lowest Healthcare Costs

The 6 Best Company Team Building Activities to Build Workplace Camaraderie

Ships Ahoy: The 10 Busiest Shipping Ports in the World

10 Productivity Tips to Save You Time and Help You Do More With Less

Grab a Bite: The Most Popular Fast Food Restaurants in America

Friday Night Thirst: The 10 Most Popular Cocktails in the World

The 6 Greatest Unsolved Mysteries We May Never Figure Out

7 Useless Products You Never Should’ve Bought

The 5 Reasons Why You’re Single and Miserable

The 7 Most Addictive Foods in the World We Can’t Stop Eating (Even Though We Should)

5 Amazing Places You Can Swim with Dolphins

The Top 7 Most Livable Countries In The World

The 10 Most Expensive Baseball Cards Ever Pulled From A Pack

The 5 Easiest Second Languages to Learn for English Speakers

Silver Spoon: The 6 Richest Families in the World

The 20 Countries with the Largest Prison Populations in the World

The Top 10 Richest Actors in the World

The 10 Best Airline Stocks to Invest In Before They Fly Too High

Burger Kings: The 10 Most Expensive Burgers in the World

The 10 Most Ethnically Diverse Countries in the World

The 10 Most Exclusive Credit Cards in the World

The 10 Most Expensive Cruise Ships in the World

The 10 Fastest Supercomputers in the World

The 10 Best Countries for Doing Business 2015

6 Most Expensive Fruits In The World

10 Worst Airlines in the World

The 10 Biggest Tax Havens in the World to Stash Your Money

The 15 Most Murderous Countries in the World

10 Largest Colleges in the World: Bigger Isn’t Always Better

Comedians in Cars Getting Coffee: The 6 Comedians Seinfeld Needs to Interview

Easy Money: The 10 Most Successful Investors in the World Today

The 10 Most Deadly Diseases in the World Today

The 5 Most Expensive Luxury Motorhomes in the World

20 Largest Stock Exchanges in the World

6 Richest Painters In The World 2014

The 6 Countries with the Best Hospitals In The World

10 Largest Beer Brewing Companies in the World

The 10 Richest Fitness Gurus In the World to Pump You Up

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!