Internap Corporation (NASDAQ:INAP) was downgraded by research analysts at BidaskClub from a “buy” rating to a “hold” rating in a report released on Tuesday.
Separately, Zacks Investment Research raised Internap Corporation from a “hold” rating to a “buy” rating and set a $3.75 target price for the company in a research note on Tuesday, May 16th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Internap Corporation has a consensus rating of “Buy” and an average price target of $4.55.
Internap Corporation (NASDAQ INAP) traded down 2.28% during midday trading on Tuesday, reaching $3.86. 200,725 shares of the company traded hands. The company’s market capitalization is $248.39 million. The stock’s 50 day moving average is $3.67 and its 200 day moving average is $3.01. Internap Corporation has a one year low of $0.80 and a one year high of $4.26.
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In other news, major shareholder Park West Asset Management Llc sold 125,000 shares of the stock in a transaction that occurred on Thursday, July 20th. The stock was sold at an average price of $4.19, for a total transaction of $523,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Peter J. Rogers, Jr. acquired 15,280 shares of the company’s stock in a transaction dated Tuesday, May 30th. The shares were bought at an average cost of $3.29 per share, with a total value of $50,271.20. Following the purchase, the director now owns 67,306 shares of the company’s stock, valued at approximately $221,436.74. The disclosure for this purchase can be found here. 5.83% of the stock is owned by corporate insiders.
Several hedge funds have recently added to or reduced their stakes in INAP. KCG Holdings Inc. raised its stake in Internap Corporation by 85.5% in the first quarter. KCG Holdings Inc. now owns 27,373 shares of the information technology services provider’s stock worth $102,000 after buying an additional 12,620 shares during the period. Atlantic Trust LLC raised its stake in Internap Corporation by 24.5% in the first quarter. Atlantic Trust LLC now owns 30,910 shares of the information technology services provider’s stock worth $115,000 after buying an additional 6,085 shares during the period. Highbridge Capital Management LLC bought a new stake in Internap Corporation during the first quarter worth $155,000. BlueCrest Capital Management Ltd bought a new stake in Internap Corporation during the first quarter worth $157,000. Finally, Raymond James Financial Services Advisors Inc. bought a new stake in Internap Corporation during the first quarter worth $232,000. 76.80% of the stock is owned by hedge funds and other institutional investors.
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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