Trading Report: Today: Internap Network Services Corp. (INAP) Given Average Recommendation of “Hold” from Analysts

Today: Internap Network Services Corp. (INAP) Given Average Recommendation of “Hold” from Analysts

Shares of Internap Network Services Corp. (NASDAQ:INAP) have received an average rating of “Hold” from the eight analysts that are currently covering the firm. Five research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $3.88.

INAP has been the topic of several research reports. Drexel Hamilton set a $5.00 price target on Internap Network Services Corp. and gave the company a “buy” rating in a research note on Friday, August 5th. Craig Hallum raised Internap Network Services Corp. from a “hold” rating to a “buy” rating and set a $3.50 price target on the stock in a research note on Monday, August 8th. Benchmark Co. reaffirmed a “buy” rating and set a $4.00 price target on shares of Internap Network Services Corp. in a research note on Wednesday, September 14th. Finally, DA Davidson reiterated a “hold” rating on shares of Internap Network Services Corp. in a report on Monday, November 7th.

Shares of Internap Network Services Corp. (NASDAQ:INAP) traded up 0.442% during midday trading on Monday, reaching $1.135. The company’s stock had a trading volume of 438,660 shares. Internap Network Services Corp. has a 12 month low of $1.01 and a 12 month high of $7.50. The stock has a 50-day moving average of $1.30 and a 200 day moving average of $1.96. The company’s market cap is $59.13 million.

Internap Network Services Corp. (NASDAQ:INAP) last issued its quarterly earnings results on Thursday, November 3rd. The company reported ($0.15) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.13) by $0.02. Internap Network Services Corp. had a negative net margin of 40.57% and a negative return on equity of 43.35%. The firm had revenue of $73.90 million for the quarter, compared to analyst estimates of $74.32 million. During the same period last year, the company earned ($0.19) EPS. The company’s revenue was down 5.6% compared to the same quarter last year. On average, analysts predict that Internap Network Services Corp. will post ($0.53) earnings per share for the current fiscal year.

In other Internap Network Services Corp. news, Director Daniel Stanzione acquired 50,000 shares of the business’s stock in a transaction dated Wednesday, September 14th. The stock was bought at an average cost of $1.93 per share, with a total value of $96,500.00. Following the completion of the transaction, the director now directly owns 193,536 shares in the company, valued at approximately $373,524.48. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 5.83% of the stock is owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the stock. LMR Partners LLP acquired a new stake in Internap Network Services Corp. during the second quarter worth about $116,000. JPMorgan Chase & Co. acquired a new stake in Internap Network Services Corp. during the third quarter worth about $117,000. Bank of New York Mellon Corp boosted its stake in Internap Network Services Corp. by 27.0% in the third quarter. Bank of New York Mellon Corp now owns 82,227 shares of the company’s stock worth $136,000 after buying an additional 17,473 shares during the last quarter. Alpine Partners VI LLC acquired a new stake in Internap Network Services Corp. during the second quarter worth about $158,000. Finally, Connor Clark & Lunn Investment Management Ltd. boosted its stake in Internap Network Services Corp. by 141.3% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 131,500 shares of the company’s stock worth $217,000 after buying an additional 77,000 shares during the last quarter. 63.92% of the stock is owned by institutional investors.

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