Internet Initiative Japan (OTCMKTS:IIJIY) Trading 7.8% Higher - Here's What Happened

Key Points

• Internet Initiative Japan's stock price increased by 7.8% to $37.84 amid mid-day trading, although trading volume declined by 42% compared to its average session.
• Wall Street Zen downgraded Internet Initiative Japan's rating from "buy" to "hold."
• The company reported earnings of $0.45 per share for the last quarter, missing estimates by $0.07, despite exceeding revenue expectations with $590.48 million.

Internet Initiative Japan, Inc. (OTCMKTS:IIJIY - Get Free Report)'s share price shot up 7.8% during mid-day trading on Friday . The company traded as high as $37.84 and last traded at $37.84. 400 shares traded hands during trading, a decline of 42% from the average session volume of 687 shares. The stock had previously closed at $35.10.

Analysts Set New Price Targets

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

Internet Initiative Japan Price Performance

The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of 25.74 and a beta of 1.03. The stock's fifty day simple moving average is $37.80 and its two-hundred day simple moving average is $36.31.

Internet Initiative Japan (OTCMKTS:IIJIY - Get Free Report) last posted its earnings results on Tuesday, May 13th. The communications equipment provider reported $0.45 EPS for the quarter, missing the consensus estimate of $0.52 by ($0.07). Internet Initiative Japan had a net margin of 6.30% and a return on equity of 14.74%. The company had revenue of $590.48 million for the quarter, compared to the consensus estimate of $575.53 million. On average, sell-side analysts predict 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.

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