Internap (INAP) Downgraded to “Sell” at Zacks Investment Research

Zacks Investment Research cut shares of Internap (NASDAQ:INAP) from a hold rating to a sell rating in a research report sent to investors on Saturday morning.

According to Zacks, “InterNAP Network Services Corp is a provider of high performance Internet connectivity services targeted at businesses seeking to maximize the performance of mission-critical Internet-based applications. Customers connected to one of their service points have their data optimally routed to and from destinations on the Internet using their overlay network, which analyzes the traffic situation on the multiplicity of networks that comprise the Internet and delivers mission-critical information and communications faster and more reliably. “

A number of other analysts have also weighed in on the stock. BidaskClub lowered shares of Internap from a hold rating to a sell rating in a research note on Thursday, December 7th. ValuEngine lowered shares of Internap from a hold rating to a sell rating in a research note on Friday, December 1st. Finally, Benchmark restated a buy rating and set a $28.00 target price on shares of Internap in a research note on Tuesday, January 30th. Three analysts have rated the stock with a sell rating, two have issued a buy rating and two have issued a strong buy rating to the company’s stock. Internap currently has an average rating of Hold and a consensus target price of $24.25.

Shares of Internap (NASDAQ INAP) opened at $13.06 on Friday. The company has a current ratio of 0.69, a quick ratio of 0.69 and a debt-to-equity ratio of 107.36. Internap has a one year low of $6.76 and a one year high of $22.36.

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. ACG Wealth acquired a new position in Internap in the fourth quarter valued at approximately $604,000. GSA Capital Partners LLP boosted its holdings in Internap by 2,313.4% in the third quarter. GSA Capital Partners LLP now owns 370,432 shares of the information technology services provider’s stock valued at $1,611,000 after purchasing an additional 355,083 shares in the last quarter. Cornerstone Capital Management Holdings LLC. boosted its holdings in Internap by 113.7% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 92,300 shares of the information technology services provider’s stock valued at $401,000 after purchasing an additional 49,100 shares in the last quarter. Engineers Gate Manager LP boosted its holdings in Internap by 54.0% in the third quarter. Engineers Gate Manager LP now owns 76,235 shares of the information technology services provider’s stock valued at $332,000 after purchasing an additional 26,739 shares in the last quarter. Finally, OxFORD Asset Management LLP boosted its holdings in Internap by 71.4% in the third quarter. OxFORD Asset Management LLP now owns 307,275 shares of the information technology services provider’s stock valued at $1,349,000 after purchasing an additional 128,031 shares in the last quarter.

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About Internap

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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