Internet Initiative Japan (OTCMKTS:IIJIY) Shares Gap Up - Here's What Happened

Key Points

• Internet Initiative Japan shares gapped up from a previous close of $38.46 to open at $40.25, with a trading volume of 100 shares.
• In a recent analysis, Wall Street Zen downgraded Internet Initiative Japan from a "buy" rating to a "hold" rating.
• The company reported earnings of $0.29 per share for the last quarter, missing consensus estimates of $0.37, alongside a revenue that also fell short of expectations.

Internet Initiative Japan, Inc. (OTCMKTS:IIJIY - Get Free Report)'s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $38.46, but opened at $40.25. Internet Initiative Japan shares last traded at $40.25, with a volume of 100 shares traded.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen cut shares of Internet Initiative Japan from a "buy" rating to a "hold" rating in a research note on Sunday, July 20th.

Internet Initiative Japan Trading Up 4.7%

The business's 50-day simple moving average is $37.91 and its 200 day simple moving average is $36.41. The company has a market capitalization of $3.69 billion, a P/E ratio of 26.48 and a beta of 1.02.

Internet Initiative Japan (OTCMKTS:IIJIY - Get Free Report) last announced its earnings results on Thursday, August 7th. The communications equipment provider reported $0.29 EPS for the quarter, missing the consensus estimate of $0.37 by ($0.08). The firm had revenue of $521.19 million for the quarter, compared to the consensus estimate of $534.99 million. Internet Initiative Japan had a return on equity of 14.91% and a net margin of 6.32%. As a group, sell-side analysts predict that Internet Initiative Japan, Inc. will post 0.37 EPS 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.