Internap Corporation June 15th Short Interest Update

Internap Corporation (NASDAQ:INAP) has seen a shortfall of 11,744 shares or 0.5% in the short interest. The remaining shorts are 4.1% of the total floated shares. The net short interest, as on June 15,2016, stood at 2,223,919 shares and the stocks days to cover will be 6 by factoring in the average per day volume of 344,453 shares. On May 31,2016, 2,235,663 shares were shorted. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Internap Corporation (NASDAQ:INAP): The stock opened at $2.30 on Friday but the bulls could not build on the opening and the stock topped out at $2.45 for the day. The stock traded down to $2.20 during the day, due to lack of any buying support eventually closed down at $2.32 with a loss of -4.13% for the day. The stock had closed at $2.42 on the previous day. The total traded volume was 5,839,439 shares.

The company shares have dropped -75.08% from its 1 Year high price. On Jul 17, 2015, the shares registered one year high at $9.99 and the one year low was seen on Feb 19, 2016. The 50-Day Moving Average price is $2.28 and the 200 Day Moving Average price is recorded at $3.31.

Internap Corporation (NASDAQ:INAP) has tumbled 11.79% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 3.57% in the last four weeks. The stocks have underperformed the S&P 500 by 10.32% during the past week but Internap Corporation (NASDAQ:INAP) it has outperformed the index in 4 weeks by 6.71%.

Internap Corporation, formerly InterNAP Network Services Corporation, provides Internet infrastructure services. The Company operates through two business segments: Data Center Services segment and Internet Protocol Services segment. Data Center Services segment includes colocation, hosting and cloud services. Internet Protocol (IP) Services segment includes its patented Performance IP service, content delivery network (CDN) services and IP routing hardware and software platform. It provides hybrid Internet infrastructure services, which enables customers to mix and match cloud, hosting and colocation for the combination of services. The Company offers its services to industries, including software and Internet, which include advertising technology; media and entertainment, including gaming; business services; hosting and information technology (IT) infrastructure; health care technology infrastructure, and telecommunications.

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