Internap Corporation (NASDAQ:INAP)’s share price fell 5.4% during mid-day trading on Monday . The stock traded as low as $4.28 and last traded at $4.35, with a volume of 698,553 shares changing hands. The stock had previously closed at $4.60.

INAP has been the topic of several research reports. UBS AG raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 4th. Raymond James Financial, Inc. raised shares of Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 price target on the stock in a research note on Friday, August 4th. BidaskClub raised shares of Internap Corporation from a “hold” rating to a “buy” rating in a research note on Thursday, July 6th. Finally, Zacks Investment Research raised shares of Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 price target on the stock in a research note on Tuesday, May 16th. One investment analyst has rated the stock with a hold rating, four have issued a buy rating and two have assigned a strong buy rating to the stock. Internap Corporation presently has an average rating of “Buy” and a consensus price target of $5.31.

The firm’s market cap is $345.86 million. The firm has a 50-day moving average of $4.10 and a 200-day moving average of $3.34.

Internap Corporation (NASDAQ:INAP) last released its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported ($0.08) EPS for the quarter, missing the consensus estimate of ($0.07) by $0.01. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The business had revenue of $69.64 million during the quarter, compared to analysts’ expectations of $70.59 million. During the same quarter in the prior year, the firm earned ($0.21) earnings per share. Internap Corporation’s quarterly revenue was down 6.3% on a year-over-year basis. On average, analysts anticipate that Internap Corporation will post ($0.42) EPS for the current year.

In other news, Director Peter J. Rogers, Jr. bought 15,280 shares of Internap Corporation stock in a transaction on Tuesday, May 30th. The shares were bought at an average cost of $3.29 per share, for a total transaction of $50,271.20. Following the acquisition, the director now owns 67,306 shares in the company, valued at $221,436.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Park West Asset Management Llc sold 2,250,000 shares of the company’s stock in a transaction dated Tuesday, July 25th. The shares were sold at an average price of $3.88, for a total transaction of $8,730,000.00. The disclosure for this sale can be found here. Insiders sold a total of 3,482,700 shares of company stock worth $13,640,242 over the last quarter. Insiders own 5.83% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in INAP. Morgan Stanley raised its position in Internap Corporation by 91.3% in the first quarter. Morgan Stanley now owns 370,816 shares of the information technology services provider’s stock worth $1,380,000 after buying an additional 176,932 shares during the period. Geode Capital Management LLC raised its position in Internap Corporation by 6.8% in the first quarter. Geode Capital Management LLC now owns 335,826 shares of the information technology services provider’s stock worth $1,249,000 after buying an additional 21,408 shares during the period. Vanguard Group Inc. raised its position in Internap Corporation by 162.2% in the first quarter. Vanguard Group Inc. now owns 2,715,665 shares of the information technology services provider’s stock worth $10,102,000 after buying an additional 1,680,128 shares during the period. Segantii Capital Management Ltd purchased a new position in Internap Corporation during the first quarter worth about $380,000. Finally, California Public Employees Retirement System raised its position in Internap Corporation by 9.3% in the first quarter. California Public Employees Retirement System now owns 336,400 shares of the information technology services provider’s stock worth $1,251,000 after buying an additional 28,500 shares during the period. Institutional investors own 77.31% of the company’s stock.

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Internap Corporation Company Profile

Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

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