Shares of Internap Corporation (NASDAQ:INAP) fell 10.1% during mid-day trading on Monday . The company traded as low as $4.47 and last traded at $4.99. 1,469,025 shares changed hands during mid-day trading, an increase of 55% from the average session volume of 950,706 shares. The stock had previously closed at $4.53.

A number of brokerages have issued reports on INAP. BidaskClub raised Internap Corporation from a “hold” rating to a “buy” rating in a research note on Saturday, August 19th. Zacks Investment Research raised Internap Corporation from a “hold” rating to a “buy” rating and set a $4.75 target price for the company in a research note on Wednesday, October 4th. Benchmark Co. reaffirmed a “buy” rating and issued a $6.00 target price (up from $5.00) on shares of Internap Corporation in a research note on Monday, September 25th. Raymond James Financial, Inc. raised Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $7.00 target price for the company in a research note on Friday, August 4th. Finally, UBS AG raised Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research note on Friday, August 4th. One equities research analyst has rated the stock with a hold rating, four have given a buy rating and two have given a strong buy rating to the stock. Internap Corporation presently has an average rating of “Buy” and a consensus price target of $5.81.

The stock has a 50 day moving average price of $4.38 and a 200 day moving average price of $3.82. The company’s market capitalization is $410.26 million.

Internap Corporation (NASDAQ:INAP) last issued its quarterly earnings data on Thursday, August 3rd. The information technology services provider reported ($0.08) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.07) by ($0.01). Internap Corporation had a negative net margin of 45.52% and a negative return on equity of 234.35%. The company had revenue of $69.64 million during the quarter, compared to analysts’ expectations of $70.59 million. During the same quarter in the prior year, the company earned ($0.21) earnings per share. The firm’s revenue was down 6.3% compared to the same quarter last year. On average, analysts anticipate that Internap Corporation will post ($0.55) earnings per share for the current fiscal year.

In other news, major shareholder Park West Asset Management Llc sold 125,000 shares of the company’s stock in a transaction on Thursday, July 20th. The stock was sold at an average price of $4.19, for a total value of $523,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders sold 3,482,700 shares of company stock worth $13,640,242 over the last 90 days. Company insiders own 3.71% of the company’s stock.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its position in Internap Corporation by 91.3% during the first quarter. Morgan Stanley now owns 370,816 shares of the information technology services provider’s stock worth $1,380,000 after buying an additional 176,932 shares during the period. Vanguard Group Inc. lifted its position in Internap Corporation by 162.2% during the first quarter. Vanguard Group Inc. now owns 2,715,665 shares of the information technology services provider’s stock worth $10,102,000 after buying an additional 1,680,128 shares during the period. Renaissance Technologies LLC lifted its position in Internap Corporation by 18.6% during the first quarter. Renaissance Technologies LLC now owns 1,854,219 shares of the information technology services provider’s stock worth $6,898,000 after buying an additional 290,799 shares during the period. Raymond James Financial Services Advisors Inc. purchased a new position in Internap Corporation during the first quarter worth about $232,000. Finally, Highbridge Capital Management LLC purchased a new position in Internap Corporation during the first quarter worth about $155,000. Hedge funds and other institutional investors own 83.46% of the company’s stock.

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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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