Is Internap Corp (INAP) Going to Burn These Hedge Funds?

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Because Internap Corp (NASDAQ:INAP) has weathered falling interest from the smart money, we can see that there is a sect of hedge funds who sold off their full holdings by the end of the third quarter. At the top of the heap, Constantinos J. Christofilis’s Archon Capital Management said goodbye to the largest stake of all the hedgies studied by Insider Monkey, totaling about $0.9 million in stock. Mark Coe’s fund, Coe Capital Management, also dumped its stock, about $0.4 million worth of INAP shares.

Let’s now take a look at hedge fund activity in other stocks – not necessarily in the same industry as Internap Corp (NASDAQ:INAP) but similarly valued. These stocks are Affimed NV (NASDAQ:AFMD), CIBER, Inc. (NYSE:CBR), ADMA Biologics Inc (NASDAQ:ADMA), and Harvard Bioscience, Inc. (NASDAQ:HBIO). This group of stocks’ market valuations match INAP’s market valuation.

Ticker No of HFs with positions Total Value of HF Positions (x1000) Change in HF Position
AFMD 9 20154 0
CBR 7 5983 -3
ADMA 6 50046 -2
HBIO 6 6440 -1

As you can see these stocks had an average of 7 hedge funds with bullish positions and the average amount invested in these stocks was $21 million. That figure was $15 million in INAP’s case. Affimed NV (NASDAQ:AFMD) is the most popular stock in this table. On the other hand ADMA Biologics Inc (NASDAQ:ADMA) is the least popular one with only 6 bullish hedge fund positions. Compared to these stocks Internap Corp (NASDAQ:INAP) is more popular among hedge funds. Considering that hedge funds are fond of this stock in relation to its market cap peers, it may be a good idea to analyze it in detail and potentially include it in your portfolio.

Disclosure: none.

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