Bank of New York Mellon Corp Cuts Stake in Internap Corporation (INAP)

Ivan Schwartz
August 13, 2017

During its last trading session, Stock traded with the total exchanged volume of 1.45 million shares. Current trade price levels places INAP's stock about 4.17% away from the 52-week high and closed 493.90% away from the 52-week low. If you are reading this news story on another publication, it was stolen and reposted in violation of global trademark and copyright legislation.

Currently Internap Corp Cmn (NASDAQ:INAP)'s shares owned by insiders are 4.1%, whereas shares owned by institutional owners are 78.6%. The stock appeared $4.78 above its 52-week highs and is up 12.56% for the last five trades. Park West Asset Management LLC boosted its position in shares of Internap Corporation by 243.8% in the first quarter. The firm's market cap is $333.93 million. The value of the investment in Internap Corporation went from $2,000 to $205,000 a change of 10,150.0% quarter over quarter. The correct version of this news story can be read at https://weekherald.com/2017/08/12/internap-corporation-nasdaqinap-stake-raised-by-kcg-holdings-inc.html. Two investment analysts have rated the stock with a hold rating, three have issued a buy rating and two have given a strong buy rating to the stock. Shares saw a steep increase in trading volume of 644.97% over the normal average daily volume. Geode Capital Management LLC now owns 335,826 shares of the information technology services provider's stock valued at $1,249,000 after buying an additional 21,408 shares in the last quarter. Prnewswire.com's article titled: "Today's Research Report Coverage on IT Services Stocks - Wipro, Internap ..." and published on July 31, 2017 is yet another important article. BlueCrest Capital Management Ltd purchased a new stake in shares of Internap Corporation during the first quarter worth approximately $157,000.

Internap Corporation (NASDAQ:INAP)'s latest quote $4.48 $-4.58 -5.68% will find technical support in $4.31 a share and a breakdown below this region would be a significantly bearish signal for Internap Corporation traders. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $5.31.

Internap Network Services Corporation was upgraded to "strong buy" by analysts at Raymond James. Company insiders own 5.83% of the company's stock.

In other Internap Corporation news, Director Peter J. Rogers, Jr. bought 15,280 shares of the business's stock in a transaction that occurred on Tuesday, May 30th. Its book value per share for the most recent quarter is $0.13 while its price to book ratio for the same period is 34.46, as for as the company's cash per share for the most recent quarter is $0.22, however its price to cash per share ratio for the same period is 20.35.

Netflix Cancels Naomi Watts-Led Drama Series GYPSY After One Season
He added that there was "a mix" of factors involved in the decision to cancel, but that it was "mostly" the number of viewers. Gypsy now joins Bloodline , The Get Down , Girlboss , and Sense8 on the list of shows recently canceled by Netflix .

Arsenal boss reveals 'fantastic' Giroud will stay
Arsenal record-signing Alexandre Lacazette launched his English league career in style by heading in the opener after 94 seconds. First came in Aaron Ramsey and Olivier Giroud in the 67th minute.

Broncos place Billy Winn on injured reserve, sign DL Nelson Adams
Adams is 6-foot-3, 287 pounds, and had 80 tackles in his career at Mississippi State, which included 16 starts. He also showed he can be effective at times in run defense, but his production didn't stand out statistically.

Taking a broader look brokerage firms' analysts on the street with an expectant view have Internap Corp Cmn (NASDAQ:INAP) high price target of $7 and with a conservative view have low price target of $3.75.

Several hedge funds and other institutional investors have recently modified their holdings of INAP.

Alcoa Corporation (NYSE:AA) ended its day at $37.78 with the rising stream of -2.18% and its total traded volume was 3.52 million shares less than the average volume. The disclosure for this purchase can be found here. The information technology services provider reported ($0.08) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.07) by $0.01.

Basically, a price target is an individual analyst's projection on the future price of a stock. Internap Corporation had a negative return on equity of 234.35% and a negative net margin of 45.52%. For the current year the company's revenue estimates are $280.17 Million compared to low analyst estimates of $277.14 Million and high estimates of $285 Million according to 7 number of analysts. Next quarter's EPS is expected be $-0.11 and the next full year EPS is projected to be $-0.41. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services (including network connectivity, Internet Protocol (IP), bandwidth and Managed Hosting) and Cloud Services (including enterprise-grade AgileCLOUD 2.0, Bare-Metal Servers and SMB iWeb platforms). Equities analysts anticipate that Internap Corporation will post ($0.31) EPS for the current fiscal year. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

Other reports by GizPress

Discuss This Article

FOLLOW OUR NEWSPAPER