The company is trading up by 1.68 percent from yesterday’s close. It is currently trading at $3.92 a bit higher than the 50 day moving average of $3.38 and which is just a bit higher than the 200 day moving average of $2.69. The 50 day moving average went up $0.54 or +15.946% whereas the 200 day average was up by +45.649%.
Traders are feeling more bearish recently as evidenced by the change in short interest. The stock recorded a rise in short interest from June 15, 2017 to May 31, 2017 of 4.36%. Short interest grew from 7,788,568 to 8,128,409 over that period. Days to cover decreased from 23.4 to 16.7 and the percentage of shorted shares was 0.13% on May 31.
Internap Corporation (NASDAQ:INAP) has been the object of insider buying activity recently. Peter J. Jr Rogers, Director bought $50,424 worth of shares at a price of $3.30 on Tue the 30th. That brings Rogers’s holdings to $258,410 as recorded in a recent Form 4 SEC filing. Director Daniel Stanzione bought 50,000 shares at an average price of $1.93 on September 14th. That brings the Director’s holdings to $373,524 per an SEC filing yesterday.
Internap Corporation, launched on July 25, 2001, is a technology provider of Internet infrastructure. 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). The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services. As of December 31, 2016, its global high-capacity network connected 15 Company-controlled Tier 3-type data centers in various markets in North America, 34 wholesale partnered facilities, and points of presence in 26 central business districts around the world..
Here are some other firms who have updated their holdings. Ubs Oconnor LLC bolstered its ownership by buying 4,394,481 shares an increase of 725.7% in the quarter. Ubs Oconnor LLC controls 5,000,000 shares with a value of $18,600,000. The total value of its holdings increased 1,895.7%. Goldman Sachs Group Inc added to its investment by buying 140,465 shares an increase of 47.3% from 12/31/2016 to 03/31/2017. Goldman Sachs Group Inc claims 437,210 shares valued at $1,626,000. The value of the position overall is up by 255.8%.
As of quarter end Park West Asset Management LLC had bought 8,287,292 shares growing its position 243.8%. The value of the investment in Internap Corporation went from $5,235,000 to $43,474,000 a change of $38,239,000 since the last quarter. As of the end of the quarter Two Sigma Investments, Lp had acquired a total of 510,565 shares growing its stake by 208.3%. The value of the company’s investment in Internap Corporation increased from $378,000 to $2,811,000 increasing 643.7% quarter to quarter.
January 11 investment analysts at DA Davidson held the company rating at “Neutral” and lowered the price expectation from $7.50 to $6.50. SunTrust Robinson Humphrey started covering the stock setting a rating of “Neutral” and projecting a price target of $7.50.
On September 25 the stock rating was downgraded to “Market Perform” from “Outperform” in a report issued by Oppenheimer. Equity analyst Oppenheimer initiated coverage by announcing an initial rating of “Outperform” and price target of $11.00.
On June 18, 2015 Oppenheimer released its first research report on the stock with a rating of “Outperform” and setting a price target of $11.00. On June 5 the company was downgraded from “” to “Market Perform” and a price target of $11.00 was set in a statement from Cowen & Company.
As of the latest earnings report the EPS was $-2.22 and is projected to be $-0.29 for the current year with 64,350,000 shares outstanding. Next quarter’s EPS is estimated at $-0.07 with next year’s EPS anticipated to be $-0.24.