Internet Initiative Japan (OTCMKTS:IIJIY) Stock Crosses Above 50 Day Moving Average - Here's Why

Key Points

• Internet Initiative Japan shares have crossed above their 50-day moving average of $38.00, reaching a high of $40.00 during trading.
• The company reported earnings per share (EPS) of $0.29 for the last quarter, missing analysts' expectations of $0.37 and generating revenue of $521.19 million.
• Wall Street Zen has downgraded Internet Initiative Japan from a "buy" rating to a "hold" rating as of July 20th.

Internet Initiative Japan, Inc. (OTCMKTS:IIJIY - Get Free Report)'s share price crossed above its 50 day moving average during trading on Thursday . The stock has a 50 day moving average of $38.00 and traded as high as $40.00. Internet Initiative Japan shares last traded at $39.64, with a volume of 6,020 shares traded.

Wall Street Analyst Weigh In

Several brokerages recently commented on IIJIY. Jefferies Financial Group raised shares of Internet Initiative Japan from a "hold" rating to a "strong-buy" rating in a research note on Thursday, August 21st. Wall Street Zen downgraded shares of Internet Initiative Japan from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, According to MarketBeat.com, the stock presently has a consensus rating of "Strong Buy".

Internet Initiative Japan Trading Up 1.8%

The company's 50-day simple moving average is $37.99 and its 200-day simple moving average is $36.69. The stock has a market capitalization of $3.73 billion, a price-to-earnings ratio of 26.78 and a beta of 1.02.

Internet Initiative Japan (OTCMKTS:IIJIY - Get Free Report) last announced its quarterly earnings results on Thursday, August 7th. The communications equipment provider reported $0.29 earnings per share (EPS) for the quarter, missing the consensus estimate 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 business had revenue of $521.19 million during the quarter, compared to analyst estimates of $534.99 million. On average, equities research analysts expect that Internet Initiative Japan, Inc. will post 0.37 earnings per share for the current fiscal year.

Internet Initiative Japan Company Profile

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.