Internet Initiative Japan (IIJI) Upgraded to “Buy” by Zacks Investment Research

Zacks Investment Research upgraded shares of Internet Initiative Japan (NASDAQ:IIJI) from a hold rating to a buy rating in a report published on Thursday morning. Zacks Investment Research currently has $14.00 price objective on the communications equipment provider’s stock.

According to Zacks, “Internet Initiative Japan Inc. offers a comprehensive range of Internet access services and Internet-related services to customers, including corporations and other Internet service providers, in Japan. The company offers its services via one of the largest Internet network backbones in Japan as well as between Japan and the United States. (PRESS RELEASE) “

Shares of IIJI stock traded up $0.24 during trading hours on Thursday, hitting $11.92. 1,394 shares of the company were exchanged, compared to its average volume of 3,445. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.50 and a current ratio of 1.58. Internet Initiative Japan has a one year low of $8.76 and a one year high of $12.50. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 22.92, a PEG ratio of 1.94 and a beta of 0.68.

Hedge funds have recently modified their holdings of the company. Rhumbline Advisers bought a new position in Internet Initiative Japan in the third quarter worth about $107,000. Jane Street Group LLC bought a new position in Internet Initiative Japan in the second quarter worth about $147,000. Finally, Renaissance Technologies LLC lifted its holdings in Internet Initiative Japan by 3.2% in the third quarter. Renaissance Technologies LLC now owns 415,315 shares of the communications equipment provider’s stock worth $4,191,000 after acquiring an additional 12,715 shares during the last quarter. 0.51% of the stock is currently owned by institutional investors and hedge funds.

Internet Initiative Japan Company Profile

Internet Initiative Japan Inc offers Internet connectivity, WAN, outsourcing, systems integration, and equipment sales services in Japan. It operates in two segments, Network Services and Systems Integration Business, and ATM Operation Business. The company's Internet connectivity services for enterprise include IP services and IIJ data center connectivity services, IIJ FiberAccess/F and IIJ DSL/F services, IIJ mobile services, and dial-up access services, as well as other Internet connectivity services comprising IIJ ISDN/F and IIJ line management/F services.

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