ValuEngine Downgrades Internet Initiative Japan (IIJI) to Hold

ValuEngine cut shares of Internet Initiative Japan (NASDAQ:IIJI) from a buy rating to a hold rating in a research report released on Friday.

Separately, Zacks Investment Research upgraded shares of Internet Initiative Japan from a hold rating to a buy rating and set a $14.00 price objective for the company in a report on Thursday, December 6th.

NASDAQ IIJI opened at $11.68 on Friday. Internet Initiative Japan has a 52-week low of $8.76 and a 52-week high of $12.43. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.52 and a quick ratio of 1.43. The stock has a market cap of $1.10 billion, a P/E ratio of 22.45, a P/E/G ratio of 1.93 and a beta of 0.64.

A number of hedge funds and other institutional investors have recently bought and sold shares of IIJI. Jane Street Group LLC purchased a new stake in Internet Initiative Japan during the second quarter worth about $147,000. Rhumbline Advisers bought a new position in Internet Initiative Japan during the third quarter worth about $107,000. Finally, Renaissance Technologies LLC boosted its position in Internet Initiative Japan by 3.2% during the third quarter. Renaissance Technologies LLC now owns 415,315 shares of the communications equipment provider’s stock worth $4,191,000 after purchasing an additional 12,715 shares during the period. Institutional investors and hedge funds own 0.51% of the company’s stock.

About Internet Initiative Japan

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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To view ValuEngine’s full report, visit ValuEngine’s official website.

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