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

Key Points

• Internet Initiative Japan's stock price opened at $36.24 after a previous close of $34.50, indicating a significant gap up prior to trading.
• Analysts downgraded the company from a "buy" rating to a "hold" rating, reflecting a change in outlook on July 20th.
• Despite a reported revenue of $590.48 million in its last earnings release, the company's Earnings Per Share (EPS) of $0.45 fell short of the consensus estimate of $0.52.

Shares of Internet Initiative Japan, Inc. (OTCMKTS:IIJIY - Get Free Report) gapped up prior to trading on Tuesday . The stock had previously closed at $34.50, but opened at $36.24. Internet Initiative Japan shares last traded at $36.24, with a volume of 118 shares.

Wall Street Analysts Forecast Growth

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

Internet Initiative Japan Price Performance

The firm's 50-day moving average is $37.80 and its two-hundred day moving average is $36.31. The company has a market cap of $3.47 billion, a P/E ratio of 25.74 and a beta of 1.03.

Internet Initiative Japan (OTCMKTS:IIJIY - Get Free Report) last announced its quarterly earnings results on Tuesday, May 13th. The communications equipment provider reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07). Internet Initiative Japan had a return on equity of 14.74% and a net margin of 6.30%. The business had revenue of $590.48 million during the quarter, compared to the consensus estimate of $575.53 million. As a group, sell-side analysts expect that Internet Initiative Japan, Inc. will post 0.37 EPS 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.