Internet Initiative Japan (OTCMKTS:IIJIY) Shares Gap Down – Here’s Why

Internet Initiative Japan, Inc. (OTCMKTS:IIJIY) shares gapped down before the market opened on Wednesday . The stock had previously closed at $44.61, but opened at $41.19. Internet Initiative Japan shares last traded at $41.19, with a volume of 1,085 shares changing hands.

Analyst Ratings Changes

Separately, The Goldman Sachs Group initiated coverage on shares of Internet Initiative Japan in a report on Tuesday, June 30th. They set a “neutral” rating for the company. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company has a consensus rating of “Hold”.

Internet Initiative Japan Stock Performance

The company has a 50-day moving average of $42.69 and a 200-day moving average of $37.26. The firm has a market capitalization of $3.78 billion, a price-to-earnings ratio of 22.63 and a beta of 1.11.

Internet Initiative Japan (OTCMKTS:IIJIY) last released its quarterly earnings results on Thursday, August 6th. The communications equipment provider reported $0.31 earnings per share for the quarter, missing the consensus estimate of $0.32 by ($0.01). The company had revenue of $616.85 million during the quarter, compared to analyst estimates of $537.56 million. Internet Initiative Japan had a net margin of 6.79% and a return on equity of 15.74%.

About Internet Initiative Japan

Internet Initiative Japan Inc (IIJ) is a Japanese information technology and telecommunications company that provides internet connectivity, network services and integrated digital solutions. Founded in 1992, the company is recognized as one of Japan’s early commercial internet service providers.

IIJ offers a broad range of services for businesses, government organizations and consumers, including dedicated internet access, wide-area networking, cloud computing, data center services, cybersecurity, systems integration and managed IT services.