Price Action Don’t Lie: What’s Next for Inteliquent Inc After Today’s Gap Up?

Price Action Don't Lie: What's Next for Inteliquent Inc After Today's Gap Up?

The stock of Inteliquent Inc (NASDAQ:IQNT) gapped up by $5.59 today and has $29.65 target or 31.00% above today’s $22.63 share price. The 5 months technical chart setup indicates low risk for the $772.99M company. The gap was reported on Nov, 3 by Barchart.com. If the $29.65 price target is reached, the company will be worth $239.63 million more.
Gaps up are useful for using as a support level and to some extent as a tradeable event. If investors already hold the stock and experience a price gap up, then its usually a good idea to hold the stock for a stronger up move. Back-tests of these patterns indicate that two-thirds of the times the stock performance improves after the gap. The area gaps close 89% of the time, the breakaway gaps, 2%, the continuation gaps 4% and the exhaustion gaps 61%. About 5.65 million shares traded hands or 2620.85% up from the average. Inteliquent Inc (NASDAQ:IQNT) has risen 1.21% since April 1, 2016 and is uptrending. It has underperformed by 0.00% the S&P500.

Inteliquent Inc (NASDAQ:IQNT) Ratings Coverage

Out of 3 analysts covering Inteliquent (NASDAQ:IQNT), 2 rate it a “Buy”, 0 “Sell”, while 1 “Hold”. This means 67% are positive. Inteliquent has been the topic of 3 analyst reports since August 20, 2015 according to StockzIntelligence Inc. As per Tuesday, September 20, the company rating was downgraded by Raymond James. Drexel Hamilton initiated Inteliquent Inc (NASDAQ:IQNT) on Tuesday, October 4 with “Buy” rating. The firm has “Strong Buy” rating given on Thursday, August 20 by BWS Financial.

According to Zacks Investment Research, “Inteliquent, Inc. offers tandem interconnection services. It provides voice, Internet protocol transit and Ethernet solutions to carriers, service providers and content management firms. Inteliquent, Inc., formerly known as Neutral Tandem, Inc., is headquartered in Chicago.”

Insitutional Activity: The institutional sentiment decreased to 1.22 in Q2 2016. Its down 0.02, from 1.24 in 2016Q1. The ratio is negative, as 18 funds sold all Inteliquent Inc shares owned while 49 reduced positions. 32 funds bought stakes while 50 increased positions. They now own 30.06 million shares or 3.94% more from 28.93 million shares in 2016Q1.
Millennium Mgmt Ltd Liability Corp, a New York-based fund reported 21,524 shares. Pnc Svcs Group Incorporated last reported 0% of its portfolio in the stock. New York State Teachers Retirement Systems last reported 0% of its portfolio in the stock. Comml Bank Of Montreal Can holds 0% of its portfolio in Inteliquent Inc (NASDAQ:IQNT) for 121,614 shares. Zurcher Kantonalbank (Zurich Cantonalbank) accumulated 0% or 985 shares. The Arizona-based Tci Wealth Advisors has invested 0% in Inteliquent Inc (NASDAQ:IQNT). Clarivest Asset Lc has 277,059 shares for 0.16% of their US portfolio. Qs Limited Liability Com has 213,214 shares for 0.04% of their US portfolio. Calvert Inv Management accumulated 176,710 shares or 0.18% of the stock. Moreover, Walleye Trading Ltd Com has 0% invested in Inteliquent Inc (NASDAQ:IQNT) for 1,841 shares. The Kansas-based Creative Planning has invested 0% in Inteliquent Inc (NASDAQ:IQNT). Victory Management has 0% invested in the company for 15,157 shares. Dean Cap Mgmt, a Kansas-based fund reported 26,605 shares. Aqr Capital Mngmt Limited Liability Company holds 0.01% or 261,353 shares in its portfolio. Midas Mgmt Corp last reported 20,000 shares in the company.

Insider Transactions: Since May 5, 2016, the stock had 0 insider purchases, and 9 insider sales for $3.90 million net activity. 2,315 Inteliquent Inc (NASDAQ:IQNT) shares with value of $39,587 were sold by Schoder John M. The insider Wren Rian J. sold $310,650. Shares for $84,400 were sold by Monto Richard. GREENBERG EDWARD sold $15,830 worth of stock or 1,000 shares.

More notable recent Inteliquent Inc (NASDAQ:IQNT) news were published by: Businesswire.com which released: “INTELIQUENT, INC. SHAREHOLDER ALERT: Rigrodsky & Long, P.A. Announces …” on November 03, 2016, also Fool.com with their article: “Why Inteliquent Stock Skyrocketed 35% Today” published on November 03, 2016, Globenewswire.com published: “INTELIQUENT INVESTOR REMINDER: Hagens Berman Reminds Investors in Inteliquent …” on October 21, 2016. More interesting news about Inteliquent Inc (NASDAQ:IQNT) were released by: Globenewswire.com and their article: “Inteliquent Unveils SIP IQ, the Latest Addition to its Omni IQ Service Line” published on November 01, 2016 as well as Prnewswire.com‘s news article titled: “SHAREHOLDER ALERT: Pomerantz Law Firm Investigates Claims On Behalf of …” with publication date: September 21, 2016.

IQNT Company Profile

Inteliquent, Inc., incorporated on April 19, 2001, is a well-known provider of voice telecommunications services primarily on a wholesale basis. The Firm offers its services using an all-Internet Protocol (IP) network, which enables to deliver connectivity for a range of media, including voice, and data and video. The Company’s solutions enable carriers and other providers to deliver voice traffic or other services where they do not have their own network. These solutions are called off-net services. It also provides solutions to customers, such as over-the-top (OTT) providers. The Firm offers a range of services, including Local Transit Service, Long Distance Service, Switched Access Service, International Voice Service, Direct Inward Dialing Service and 8XX (Toll-Free) Service.

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