Internap (INAP) Sees Large Volume Increase

Shares of Internap Corp (NASDAQ:INAP) saw unusually-strong trading volume on Tuesday . Approximately 1,086,029 shares traded hands during mid-day trading, an increase of 306% from the previous session’s volume of 267,673 shares.The stock last traded at $5.85 and had previously closed at $5.32.

A number of equities research analysts have recently weighed in on INAP shares. Zacks Investment Research upgraded shares of Internap from a “sell” rating to a “hold” rating in a report on Tuesday. Jefferies Financial Group initiated coverage on shares of Internap in a report on Monday, December 10th. They issued a “buy” rating and a $7.50 price objective for the company. ValuEngine lowered shares of Internap from a “hold” rating to a “sell” rating in a report on Saturday, December 15th. SunTrust Banks lowered their price target on shares of Internap to $15.00 and set a “buy” rating for the company in a report on Friday, November 2nd. Finally, Craig Hallum lowered their price target on shares of Internap from $22.00 to $16.00 and set a “buy” rating for the company in a report on Friday, November 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $12.30.

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The firm has a market cap of $140.32 million, a P/E ratio of -4.14 and a beta of 2.83.

Large investors have recently bought and sold shares of the stock. Citigroup Inc. raised its holdings in Internap by 67.9% during the 4th quarter. Citigroup Inc. now owns 10,171 shares of the information technology services provider’s stock valued at $42,000 after buying an additional 4,115 shares during the last quarter. Raymond James Financial Services Advisors Inc. bought a new stake in Internap during the 4th quarter valued at $47,000. MetLife Investment Advisors LLC bought a new stake in Internap during the 3rd quarter valued at $191,000. American International Group Inc. raised its holdings in Internap by 19.8% during the 4th quarter. American International Group Inc. now owns 15,961 shares of the information technology services provider’s stock valued at $66,000 after buying an additional 2,639 shares during the last quarter. Finally, Dynamic Technology Lab Private Ltd bought a new stake in Internap during the 3rd quarter valued at $202,000. Institutional investors own 75.01% of the company’s stock.

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About Internap (NASDAQ:INAP)

Internap Corporation provides Internet infrastructure services. It operates through two business segments, INAP COLO and INAP CLOUD. The INAP COLO segment offers colocation services, including physical space within data centers and related services, such as power, interconnection, environmental controls, monitoring, and security; and Internet protocol (IP) connectivity services comprising its patented Performance IP and content delivery network services, IP routing hardware and software platforms, and Managed Internet Route Optimizer controllers.

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