Internap (INAP) Reaches New 1-Year Low at $11.37

Internap (NASDAQ:INAP)’s share price hit a new 52-week low during trading on Thursday . The stock traded as low as $11.37 and last traded at $11.37, with a volume of 318264 shares trading hands. The stock had previously closed at $12.71.

Several brokerages have commented on INAP. BidaskClub upgraded Internap from a “sell” rating to a “hold” rating in a report on Tuesday, January 30th. Zacks Investment Research upgraded Internap from a “hold” rating to a “buy” rating and set a $16.00 price target on the stock in a report on Wednesday, March 14th. Finally, Benchmark reiterated a “buy” rating and set a $28.00 price target on shares of Internap in a report on Tuesday, January 30th. Two research analysts have rated the stock with a sell rating, two have assigned a buy rating and two have given a strong buy rating to the company. Internap presently has an average rating of “Buy” and an average target price of $24.00.

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The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of -496.68. The firm has a market cap of $225.09, a PE ratio of -4.71 and a beta of 1.98.

Internap (NASDAQ:INAP) last posted its quarterly earnings data on Thursday, March 8th. The information technology services provider reported ($0.33) earnings per share for the quarter, beating the consensus estimate of ($0.60) by $0.27. Internap had a negative return on equity of 271.76% and a negative net margin of 16.15%. The company had revenue of $70.00 million during the quarter, compared to analysts’ expectations of $68.48 million. During the same period in the prior year, the business earned ($0.11) earnings per share. Internap’s revenue for the quarter was down 5.5% compared to the same quarter last year. analysts anticipate that Internap will post -1.91 EPS for the current fiscal year.

Several institutional investors and hedge funds have recently bought and sold shares of the company. MetLife Investment Advisors LLC bought a new stake in shares of Internap in the fourth quarter valued at approximately $159,000. Engineers Gate Manager LP boosted its position in shares of Internap by 54.0% in the third quarter. Engineers Gate Manager LP now owns 76,235 shares of the information technology services provider’s stock valued at $332,000 after acquiring an additional 26,739 shares during the period. Wells Fargo & Company MN boosted its position in shares of Internap by 53.3% in the third quarter. Wells Fargo & Company MN now owns 91,411 shares of the information technology services provider’s stock valued at $397,000 after acquiring an additional 31,789 shares during the period. Voya Investment Management LLC bought a new stake in shares of Internap in the second quarter valued at approximately $133,000. Finally, ACG Wealth bought a new stake in shares of Internap in the fourth quarter valued at approximately $604,000. 83.14% of the stock is owned by institutional investors.

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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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