Internap (INAP) Downgraded by BidaskClub

BidaskClub lowered shares of Internap (NASDAQ:INAP) from a hold rating to a sell rating in a research note issued to investors on Monday.

Several other brokerages have also issued reports on INAP. ValuEngine lowered shares of Internap from a hold rating to a sell rating in a research report on Friday, December 1st. Zacks Investment Research lowered shares of Internap from a hold rating to a sell rating in a research report on Wednesday, January 3rd. Finally, Benchmark reiterated a buy rating and set a $28.00 target price on shares of Internap in a research report on Tuesday, January 30th. Two investment analysts have rated the stock with a sell rating, one has given a hold rating, two have issued a buy rating and two have issued a strong buy rating to the company. The stock has an average rating of Buy and an average target price of $24.25.

Shares of Internap (NASDAQ:INAP) opened at $13.11 on Monday. Internap has a 1 year low of $6.76 and a 1 year high of $22.36. The company has a quick ratio of 0.69, a current ratio of 0.69 and a debt-to-equity ratio of 107.36.

Several institutional investors and hedge funds have recently made changes to their positions in INAP. Schwab Charles Investment Management Inc. lifted its holdings in shares of Internap by 197.0% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 475,932 shares of the information technology services provider’s stock worth $1,747,000 after acquiring an additional 315,674 shares during the last quarter. Rhumbline Advisers bought a new stake in shares of Internap in the 2nd quarter worth approximately $311,000. Bank of New York Mellon Corp lifted its holdings in shares of Internap by 314.0% in the 2nd quarter. Bank of New York Mellon Corp now owns 213,186 shares of the information technology services provider’s stock worth $783,000 after acquiring an additional 161,694 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in shares of Internap by 1,064.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 55,940 shares of the information technology services provider’s stock worth $205,000 after acquiring an additional 51,135 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its holdings in shares of Internap by 5,733.9% in the 2nd quarter. Wells Fargo & Company MN now owns 59,622 shares of the information technology services provider’s stock worth $219,000 after acquiring an additional 58,600 shares during the last quarter.

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About Internap

Internap Corporation is a technology provider of Internet infrastructure. The Company provides Internet infrastructure through both Colocation Business and Enterprise Services and Cloud Services. The Company operates through two segments: Data Center and Network Services, and Cloud and Hosting Services.

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