Internap Corp (INAP) CEO Peter D. Aquino Acquires 25,000 Shares of Stock

Internap Corp (NASDAQ:INAP) CEO Peter D. Aquino acquired 25,000 shares of the business’s stock in a transaction that occurred on Thursday, November 8th. The stock was acquired at an average price of $7.06 per share, for a total transaction of $176,500.00. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

INAP traded up $0.18 during mid-day trading on Friday, hitting $6.96. The stock had a trading volume of 11,972 shares, compared to its average volume of 814,438. The company has a debt-to-equity ratio of 72.60, a quick ratio of 0.58 and a current ratio of 0.58. The firm has a market cap of $178.59 million, a PE ratio of -4.48 and a beta of 2.51. Internap Corp has a 1-year low of $6.08 and a 1-year high of $18.49.

Internap (NASDAQ:INAP) last posted its earnings results on Thursday, November 1st. The information technology services provider reported ($0.75) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.51) by ($0.24). The firm had revenue of $82.97 million during the quarter, compared to analyst estimates of $82.80 million. Internap had a negative return on equity of 2,471.65% and a negative net margin of 16.18%. The company’s revenue for the quarter was up 20.4% on a year-over-year basis. During the same quarter last year, the business posted ($0.48) earnings per share. Equities analysts forecast that Internap Corp will post -2.58 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently bought and sold shares of INAP. Los Angeles Capital Management & Equity Research Inc. acquired a new stake in Internap in the second quarter worth $126,000. Dynamic Technology Lab Private Ltd bought a new stake in shares of Internap during the first quarter worth $188,000. Royal Bank of Canada increased its position in shares of Internap by 1,220.3% during the first quarter. Royal Bank of Canada now owns 17,666 shares of the information technology services provider’s stock worth $194,000 after acquiring an additional 16,328 shares in the last quarter. Cubist Systematic Strategies LLC bought a new stake in shares of Internap during the first quarter worth $202,000. Finally, Creative Planning bought a new stake in shares of Internap during the second quarter worth $231,000. Institutional investors own 83.88% of the company’s stock.

INAP has been the topic of several analyst reports. SunTrust Banks initiated coverage on shares of Internap in a report on Tuesday, September 18th. They issued a “buy” rating and a $22.00 price objective on the stock. ValuEngine upgraded shares of Internap from a “strong sell” rating to a “sell” rating in a report on Friday, August 3rd. Stifel Nicolaus set a $13.00 target price on shares of Internap and gave the stock a “hold” rating in a report on Friday, August 3rd. Craig Hallum cut their target price on shares of Internap from $22.00 to $16.00 and set a “buy” rating on the stock in a report on Friday, November 2nd. Finally, BidaskClub upgraded shares of Internap from a “hold” rating to a “buy” rating in a report on Tuesday, August 14th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average target price of $17.60.

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Internap Company Profile

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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