Internap Corp (NASDAQ:INAP) saw a significant increase in short interest in the month of June. As of June 15th, there was short interest totalling 6,294,700 shares, an increase of 7.4% from the May 15th total of 5,859,900 shares. Based on an average daily volume of 368,700 shares, the short-interest ratio is presently 17.1 days. Currently, 26.0% of the company’s shares are short sold.
INAP traded up $0.19 during midday trading on Friday, hitting $3.25. The company had a trading volume of 345,987 shares, compared to its average volume of 494,940. Internap has a 52 week low of $2.29 and a 52 week high of $15.31. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 11,888.77. The stock has a market cap of $86.88 million, a P/E ratio of -1.08 and a beta of 2.87. The stock’s 50 day simple moving average is $2.85.
Internap (NASDAQ:INAP) last posted its earnings results on Thursday, May 9th. The information technology services provider reported ($0.83) EPS for the quarter, missing the consensus estimate of ($0.57) by ($0.26). The firm had revenue of $73.60 million for the quarter, compared to the consensus estimate of $77.03 million. During the same period in the previous year, the firm posted ($0.70) earnings per share. Internap’s quarterly revenue was down .8% compared to the same quarter last year. Sell-side analysts forecast that Internap will post -2.11 EPS for the current fiscal year.
Hedge funds have recently bought and sold shares of the business. Eidelman Virant Capital acquired a new position in Internap in the 1st quarter valued at about $2,070,000. Pinnacle Associates Ltd. increased its holdings in shares of Internap by 17.9% in the first quarter. Pinnacle Associates Ltd. now owns 90,312 shares of the information technology services provider’s stock valued at $448,000 after purchasing an additional 13,700 shares during the period. Teton Advisors Inc. increased its holdings in shares of Internap by 1.4% in the first quarter. Teton Advisors Inc. now owns 569,000 shares of the information technology services provider’s stock valued at $2,822,000 after purchasing an additional 7,903 shares during the period. Gamco Investors INC. ET AL increased its holdings in shares of Internap by 13.8% in the first quarter. Gamco Investors INC. ET AL now owns 3,401,579 shares of the information technology services provider’s stock valued at $16,872,000 after purchasing an additional 412,683 shares during the period. Finally, Gabelli Funds LLC grew its holdings in Internap by 7.0% during the first quarter. Gabelli Funds LLC now owns 3,119,564 shares of the information technology services provider’s stock worth $15,473,000 after acquiring an additional 204,151 shares during the period. Institutional investors and hedge funds own 71.92% of the company’s stock.
A number of brokerages have recently commented on INAP. Wells Fargo & Co lowered shares of Biogen from an “outperform” rating to a “market perform” rating in a report on Thursday, March 21st. ValuEngine lowered shares of Zosano Pharma from a “buy” rating to a “hold” rating in a report on Wednesday, May 1st. SunTrust Banks set a $37.00 target price on shares of Yelp and gave the company a “hold” rating in a report on Friday, May 10th. Finally, Zacks Investment Research lowered shares of HEXO from a “hold” rating to a “sell” rating in a report on Wednesday, May 15th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $9.92.
Internap Company Profile
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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