Internap Corporation (NASDAQ:INAP) dropped 5.5% during mid-day trading on Thursday . The company traded as low as $16.01 and last traded at $16.51. Approximately 665,100 shares changed hands during trading, an increase of 197% from the average daily volume of 224,192 shares. The stock had previously closed at $17.47.

INAP has been the topic of a number of recent analyst reports. UBS AG raised Internap Corporation from an “outperform” rating to a “strong-buy” rating in a research report on Friday, August 4th. Raymond James Financial, Inc. raised Internap Corporation from an “outperform” rating to a “strong-buy” rating and set a $28.00 target price on the stock in a research report on Friday, August 4th. BidaskClub upgraded Internap Corporation from a “hold” rating to a “buy” rating in a report on Saturday, August 19th. Benchmark Co. reiterated a “buy” rating and set a $24.00 price target (up previously from $20.00) on shares of Internap Corporation in a report on Monday, September 25th. Finally, Zacks Investment Research upgraded Internap Corporation from a “hold” rating to a “buy” rating and set a $19.00 price target on the stock in a report on Wednesday, October 4th. One analyst has rated the stock with a hold rating, four have given a buy rating and two have issued a strong buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $23.25.

The company has a debt-to-equity ratio of 107.36, a current ratio of 0.69 and a quick ratio of 0.69.

Internap Corporation (NASDAQ:INAP) last issued its earnings results on Thursday, November 2nd. The information technology services provider reported ($0.56) EPS for the quarter, missing analysts’ consensus estimates of ($0.40) by ($0.16). Internap Corporation 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 quarter last year, the firm earned ($7.00) EPS. The business’s revenue for the quarter was down 6.8% compared to the same quarter last year. equities analysts anticipate that Internap Corporation will post -2.44 earnings per share for the current fiscal year.

Hedge funds and other institutional investors have recently modified their holdings of the business. KCG Holdings Inc. grew 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 valued at $102,000 after purchasing an additional 12,620 shares in the last quarter. Gotham Asset Management LLC lifted its position in shares of Internap Corporation by 173.1% in the second quarter. Gotham Asset Management LLC now owns 27,952 shares of the information technology services provider’s stock worth $103,000 after buying an additional 17,717 shares during the last quarter. Voya Investment Management LLC acquired a new stake in shares of Internap Corporation in the second quarter worth about $133,000. Cornerstone Capital Management Holdings LLC. acquired a new stake in shares of Internap Corporation in the second quarter worth about $158,000. Finally, Symphony Asset Management LLC acquired a new stake in shares of Internap Corporation in the second quarter worth about $159,000. Hedge funds and other institutional investors own 88.87% 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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