Internet Initiative Japan (OTCMKTS:IIJIY) Stock Price Crosses Above 50 Day Moving Average - Time to Sell?

Key Points

• The stock price of Internet Initiative Japan surged above its 50-day moving average, closing at $40.25 after trading as high as $40.25.
• Analysts recently downgraded the company from a "buy" to a "hold" rating, indicating a potential shift in market sentiment.
• The company's latest earnings report showed $0.29 earnings per share, which fell short of analyst expectations of $0.37.

Internet Initiative Japan, Inc. (OTCMKTS:IIJIY - Get Free Report)'s stock price passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $37.90 and traded as high as $40.25. Internet Initiative Japan shares last traded at $40.25, with a volume of 602 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen downgraded Internet Initiative Japan from a "buy" rating to a "hold" rating in a research report on Sunday, July 20th.

Internet Initiative Japan Price Performance

The business's 50 day moving average price is $37.91 and its 200-day moving average price is $36.56. The company has a market cap of $3.69 billion, a PE ratio of 26.48 and a beta of 1.02.

Internet Initiative Japan (OTCMKTS:IIJIY - Get Free Report) last posted its quarterly earnings data on Thursday, August 7th. The communications equipment provider reported $0.29 earnings per share for the quarter, missing analysts' consensus estimates of $0.37 by ($0.08). Internet Initiative Japan had a net margin of 6.32% and a return on equity of 14.91%. The firm had revenue of $521.19 million during the quarter, compared to analysts' expectations of $534.99 million. Equities analysts expect that Internet Initiative Japan, Inc. will post 0.37 earnings per share for the current year.

About Internet Initiative Japan

Internet Initiative Japan Inc provides Internet connectivity, WAN, outsourcing, systems integration, and network-related equipment sales services in Japan. It operates through two segments, Network Services and Systems Integration Business, and ATM Operation Business. The company offers mobile communication and remote access/telework services; WAN/network services, including SDN, multi-cloud network, closed connection, internet VPN, SEIL, remote access, wireless LAN, and GIGA-school; leased line and broadband services; IIJ DNS platform, and domain name registration and maintenance services; IIJ access ID management, dial-up access, and IIJ IPv6 fiber access services; and security solutions for IIJ managed firewall, DDoS protection, and managed IPS/IDS services.