Benchmark Co. restated their buy rating on shares of Internap Network Services Corp. (NASDAQ:INAP) in a report issued on Wednesday morning. The brokerage currently has a $4.00 target price on the stock.

“We note that, of the 1,585,000 restricted shares awarded to Mr. Aquino, only 300,000 are subject to time-based vesting, with the remainder vesting in tranches based on stock price or a hybrid of time/price, and an initial share price hurdle of $5 per share. We also suspect that, perhaps unlike past transitions, top shareholders may have been at least involved/consulted, which could provide a modicum of stability now that all of the activists have exited. Still, we acknowledge that, outside of operational outperformance, any transaction-based catalyst seems to be likely pushed out into 2017 at the earliest, which could test the patience of the remaining shareholder base.”,” the firm’s analyst commented.

A number of other research firms also recently issued reports on INAP. Drexel Hamilton reissued a buy rating on shares of Internap Network Services Corp. in a report on Monday, June 6th. Zacks Investment Research downgraded shares of Internap Network Services Corp. from a strong-buy rating to a hold rating in a report on Tuesday, July 12th. Finally, Craig Hallum raised shares of Internap Network Services Corp. from a hold rating to a buy rating and set a $3.50 price objective on the stock in a report on Monday, August 8th. Seven research analysts have rated the stock with a hold rating and four have issued a buy rating to the company’s stock. The stock presently has a consensus rating of Hold and a consensus price target of $5.94.

Internap Network Services Corp. (NASDAQ:INAP) opened at 1.85 on Wednesday. The company’s market cap is $96.31 million. Internap Network Services Corp. has a one year low of $1.79 and a one year high of $9.20. The stock has a 50 day moving average of $2.22 and a 200-day moving average of $2.38.

Internap Network Services Corp. (NASDAQ:INAP) last posted its quarterly earnings data on Thursday, August 4th. The company reported ($0.14) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.12) by $0.02. The business earned $74.30 million during the quarter, compared to analysts’ expectations of $76.61 million. Internap Network Services Corp. had a negative return on equity of 35.34% and a negative net margin of 14.90%. The business’s quarterly revenue was down 7.6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.20) EPS. On average, equities analysts predict that Internap Network Services Corp. will post ($0.49) EPS for the current fiscal year.

In related news, Director Daniel Stanzione bought 50,000 shares of the stock in a transaction dated Wednesday, September 14th. The shares were purchased at an average price of $1.93 per share, with a total value of $96,500.00. Following the completion of the acquisition, the director now owns 193,536 shares of the company’s stock, valued at $373,524.48. The purchase was disclosed in a filing with the SEC, which is available through this hyperlink. 5.83% of the stock is currently owned by insiders.

Several institutional investors have recently added to or reduced their stakes in the company. LMR Partners LLP bought a new position in Internap Network Services Corp. during the second quarter valued at approximately $116,000. Alpine Partners VI LLC bought a new position in Internap Network Services Corp. during the second quarter valued at approximately $158,000. A.R.T. Advisors LLC increased its position in Internap Network Services Corp. by 76.4% in the first quarter. A.R.T. Advisors LLC now owns 66,419 shares of the company’s stock valued at $181,000 after buying an additional 28,766 shares during the period. Springowl Associates LLC increased its position in Internap Network Services Corp. by 56.8% in the second quarter. Springowl Associates LLC now owns 121,502 shares of the company’s stock valued at $250,000 after buying an additional 44,000 shares during the period. Finally, Jacobs Levy Equity Management Inc. bought a new position in Internap Network Services Corp. during the first quarter valued at approximately $298,000. 70.69% of the stock is currently owned by hedge funds and other institutional investors.

About Internap Network Services Corp.

Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The Company operates through two segments: Data Center Services segment and Internet Protocol Services segment. It offers hybrid Internet infrastructure services, which enables customers to mix and match cloud, hosting and colocation for the combination of services.

5 Day Chart for NASDAQ:INAP

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