Internap (NASDAQ:INAP) Trading Down 11.7%

Shares of Internap Corp (NASDAQ:INAP) were down 11.7% during mid-day trading on Wednesday . The stock traded as low as $0.80 and last traded at $0.83, approximately 650,937 shares were traded during mid-day trading. An increase of 95% from the average daily volume of 334,059 shares. The stock had previously closed at $0.94.

Several equities analysts have recently issued reports on INAP shares. ValuEngine raised shares of Internap from a “hold” rating to a “buy” rating in a report on Thursday, February 13th. Zacks Investment Research lowered shares of Internap from a “hold” rating to a “sell” rating in a report on Wednesday, December 4th. One analyst has rated the stock with a sell rating and five have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average price target of $7.20.

The company has a market cap of $22.13 million, a price-to-earnings ratio of -0.24 and a beta of 2.93. The firm’s fifty day moving average price is $1.04 and its 200-day moving average price is $1.73.

Several hedge funds have recently made changes to their positions in INAP. Pacer Advisors Inc. grew its holdings in shares of Internap by 371.1% in the 3rd quarter. Pacer Advisors Inc. now owns 98,344 shares of the information technology services provider’s stock valued at $254,000 after buying an additional 77,470 shares during the period. Millennium Management LLC grew its holdings in shares of Internap by 320.6% in the 3rd quarter. Millennium Management LLC now owns 114,300 shares of the information technology services provider’s stock valued at $294,000 after buying an additional 87,123 shares during the period. Jane Street Group LLC bought a new stake in Internap in the 4th quarter valued at $86,000. Finally, Gabelli Funds LLC lifted its position in Internap by 0.4% in the 4th quarter. Gabelli Funds LLC now owns 2,681,612 shares of the information technology services provider’s stock valued at $2,950,000 after acquiring an additional 11,600 shares in the last quarter. 56.16% of the stock is owned by institutional investors.

About Internap (NASDAQ:INAP)

Internap Corp. engages in the provision of information technology infrastructure services. It operates through the following segments: INAP US and INAP INTL. The INAP US segment consists of U. S. Colocation, U. S. Cloud, and U. S. Network services based in the United States. The INAP INTL segment consists of these same services based in countries other than the United States, and Ubersmith.

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