Internet Initiative Japan (OTCMKTS:IIJIY) Trading Up 5.2% – Here’s Why

Internet Initiative Japan, Inc. (OTCMKTS:IIJIY) shares were up 5.2% during trading on Thursday . The company traded as high as $35.54 and last traded at $35.54. Approximately 323 shares were traded during mid-day trading, a decline of 57% from the average daily volume of 754 shares. The stock had previously closed at $33.77.

Wall Street Analysts Forecast Growth

Separately, Jefferies Financial Group upgraded shares of Internet Initiative Japan from a “hold” rating to a “strong-buy” rating in a research note on Thursday, August 21st. One investment analyst has rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Internet Initiative Japan has a consensus rating of “Strong Buy”.

Internet Initiative Japan Stock Performance

The business’s fifty day moving average price is $35.60 and its two-hundred day moving average price is $37.13. The firm has a market capitalization of $3.26 billion, a P/E ratio of 23.38 and a beta of 1.06.

Internet Initiative Japan (OTCMKTS:IIJIY) last announced its earnings results on Friday, November 7th. The communications equipment provider reported $0.48 earnings per share for the quarter, topping the consensus estimate of $0.40 by $0.08. Internet Initiative Japan had a return on equity of 14.55% and a net margin of 6.32%.The firm had revenue of $555.81 million for the quarter, compared to the consensus estimate of $528.83 million. Sell-side analysts predict 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.