Internap Corp (NASDAQ:INAP)’s stock price shot up 5.8% on Thursday . The company traded as high as $2.40 and last traded at $2.38, 128,384 shares traded hands during trading. A decline of 66% from the average session volume of 374,159 shares. The stock had previously closed at $2.25.
A number of research firms have weighed in on INAP. SunTrust Banks reaffirmed a “buy” rating and set a $6.00 price target on shares of Internap in a research note on Friday, May 10th. Zacks Investment Research downgraded shares of Internap from a “buy” rating to a “sell” rating in a research note on Tuesday, August 13th. Benchmark set a $8.00 price target on shares of Internap and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, ValuEngine raised shares of Internap from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, five have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus target price of $8.36.
The company has a quick ratio of 0.73, a current ratio of 0.73 and a debt-to-equity ratio of 11,888.77. The company has a market cap of $59.65 million, a PE ratio of -0.79 and a beta of 2.91. The stock’s 50 day simple moving average is $2.79 and its two-hundred day simple moving average is $3.87.
Internap (NASDAQ:INAP) last issued its earnings results on Tuesday, August 6th. The information technology services provider reported ($0.78) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.56) by ($0.22). The firm had revenue of $73.13 million for the quarter, compared to analyst estimates of $76.75 million. During the same quarter in the previous year, the company posted ($0.47) earnings per share. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. Analysts forecast that Internap Corp will post -2.65 EPS for the current year.
Several hedge funds have recently modified their holdings of INAP. BNP Paribas Arbitrage SA raised its stake in shares of Internap by 781.8% in the 1st quarter. BNP Paribas Arbitrage SA now owns 5,123 shares of the information technology services provider’s stock valued at $25,000 after acquiring an additional 4,542 shares during the period. Walleye Trading LLC purchased a new position in shares of Internap in the 2nd quarter valued at $32,000. Keystone Financial Group purchased a new position in shares of Internap in the 2nd quarter valued at $49,000. Pacer Advisors Inc. grew its holdings in Internap by 180.8% during the 2nd quarter. Pacer Advisors Inc. now owns 20,874 shares of the information technology services provider’s stock valued at $63,000 after purchasing an additional 13,439 shares in the last quarter. Finally, Advisory Services Network LLC acquired a new stake in Internap during the 2nd quarter valued at $64,000. 61.91% of the stock is currently owned by institutional investors and hedge funds.
About Internap (NASDAQ:INAP)
Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.
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