Shares of Internap Corporation (NASDAQ:INAP) traded down 7.5% during mid-day trading on Wednesday . The company traded as low as $13.76 and last traded at $14.58. 643,515 shares were traded during trading, an increase of 183% from the average session volume of 227,554 shares. The stock had previously closed at $15.76.

A number of analysts have issued reports on the company. ValuEngine downgraded Internap from a “hold” rating to a “sell” rating in a report on Friday, December 1st. Zacks Investment Research raised Internap from a “hold” rating to a “buy” rating and set a $19.00 target price for the company in a report on Wednesday, October 4th. Benchmark reissued a “buy” rating and issued a $24.00 target price (up from $20.00) on shares of Internap in a report on Monday, September 25th. Finally, BidaskClub raised Internap from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. One research analyst has rated the stock with a sell rating, four have assigned a buy rating and two have issued a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average target price of $23.25.

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 (NASDAQ:INAP) last posted its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.40) by ($0.16). Internap had a negative net margin of 18.09% and a negative return on equity of 282.42%. The firm had revenue of $68.91 million during the quarter, compared to analysts’ expectations of $69.10 million. During the same period in the previous year, the firm posted ($7.00) earnings per share. The firm’s revenue for the quarter was down 6.8% on a year-over-year basis. equities analysts expect that Internap Corporation will post -2.44 earnings per share for the current fiscal year.

Institutional investors have recently bought and sold shares of the company. Bank of New York Mellon Corp lifted its holdings in shares of Internap by 314.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 213,186 shares of the information technology services provider’s stock valued at $783,000 after purchasing an additional 161,694 shares during the last quarter. Morgan Stanley raised its stake in Internap by 91.3% during the 1st quarter. Morgan Stanley now owns 370,816 shares of the information technology services provider’s stock valued at $1,380,000 after acquiring an additional 176,932 shares during the last quarter. Vanguard Group Inc. raised its stake in Internap by 162.2% during the 1st quarter. Vanguard Group Inc. now owns 2,715,665 shares of the information technology services provider’s stock valued at $10,102,000 after acquiring an additional 1,680,128 shares during the last quarter. EAM Investors LLC raised its stake in Internap by 182.9% during the 3rd quarter. EAM Investors LLC now owns 1,161,840 shares of the information technology services provider’s stock valued at $5,054,000 after acquiring an additional 751,131 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. raised its stake in Internap by 197.0% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 475,932 shares of the information technology services provider’s stock valued at $1,747,000 after acquiring an additional 315,674 shares during the last quarter.

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Internap 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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