The stock was purchased at an average cost of $3.29 per share, with a total value of $50,271.20. Finally, Zacks Investment Research upgraded Internap Corporation from a "hold" rating to a "buy" rating and set a $3.75 price objective for the company in a research report on Tuesday, May 16th.
Internap Corporation (NASDAQ:INAP) last announced its quarterly earnings data on Thursday, August 3rd.
Currently Internap Corp Cmn (NASDAQ:INAP)'s shares owned by insiders are 4.1%, whereas shares owned by institutional owners are 78.6%.
Internap Corporation, launched on July 25, 2001, is a technology provider of Internet infrastructure. 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. Park West Asset Management LLC boosted its position in shares of Internap Corporation by 243.8% in the first quarter. This analysis is based on historical data about the stock's monthly performance given the overall trends of the market and particular indicators within the market.
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The share price of the company (NASDAQ:INAP) was up +5.56%, with a high of 4.78 during the day and the volume of Internap Network Services Corporation shares traded was 2496220. Vanguard Group Inc. now owns 2,715,665 shares of the information technology services provider's stock valued at $10,102,000 after buying an additional 1,680,128 shares in the last quarter. Two research analysts have rated the stock with a hold rating, three have given a buy rating and two have issued a strong buy rating on the company. (NASDAQ:ALNY) has been 1.07 million shares per day over the past 30 days.
Internap Corporation's average Book Value per Share Growth Rate was -92.8 percent during the past 12 months. Finally, Raymond James Financial, Inc. raised shares of Internap Corporation from an "outperform" rating to a "strong-buy" rating and set a $7.00 price target for the company in a research note on Friday, August 4th. Atlantic Trust LLC increased its stake in shares of Internap Corporation by 24.5% in the first quarter.
United States of America based company, Internap Corporation (INAP)'s latest closing price distance was 72.03% from the average-price of 200 days while it maintained a distance from the 50 Day Moving Average at 20.21% and 10.45% compared with the 20 Day Moving Average. Investors measure stock performance on the basis of a company's earnings power. Also, Director Peter J. Rogers, Jr. bought 15,280 shares of the stock in a transaction dated Tuesday, May 30th. The transaction was disclosed in a document filed with the SEC, which is available at this link. Following the acquisition, the director now directly owns 67,306 shares in the company, valued at $221,436.74. Highbridge Capital Management LLC acquired a new position in Internap Corporation during the first quarter valued at about $155,000. The company maintains price to book ratio of 37.65 vs.an industry average at 3.48. Hedge funds and other institutional investors own 77.37% of the company's stock. Internap Corp (NASDAQ:INAP) has risen 55.77% since August 11, 2016 and is uptrending. Shares are trading at $4.75 slightly over the 50 day moving average which is $3.79 and a bit higher than the 200 day moving average of $3.10. The disclosure for this sale can be found here. UBS Oconnor LLC now owns 5,000,000 shares of the information technology services provider's stock valued at $18,600,000 after buying an additional 4,394,481 shares during the period. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. The business had revenue of $69.64 million during the quarter, compared to analyst estimates of $70.59 million. Next quarter's EPS is estimated at $-0.06 and the next full year EPS is projected to be $-0.28. Over the last ninety days, insiders have sold 3,482,700 shares of company stock valued at $13,640,242.
As of the last earnings report the EPS was $-2.22 and is expected to be $-0.28 for the current year with 64,350,000 shares outstanding. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. Internap Corporation's revenue for the quarter was down 6.3% compared to the same quarter previous year.
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