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. Zacks Investment Research currently has $14.00 price target 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 NASDAQ:IIJI traded up $0.24 during trading hours on Thursday, hitting $11.92. The stock had a trading volume of 1,394 shares, compared to its average volume of 3,445. Internet Initiative Japan has a 1-year low of $8.76 and a 1-year high of $12.50. The firm has a market capitalization of $1.10 billion, a P/E ratio of 22.92, a PEG ratio of 1.94 and a beta of 0.68. The company has a current ratio of 1.58, a quick ratio of 1.50 and a debt-to-equity ratio of 0.34.

Several large investors have recently made changes to their positions in the business. Renaissance Technologies LLC increased its stake in shares of 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 valued at $4,191,000 after purchasing an additional 12,715 shares during the period. Jane Street Group LLC acquired a new stake in shares of Internet Initiative Japan in the second quarter valued at approximately $147,000. Finally, Rhumbline Advisers acquired a new stake in shares of Internet Initiative Japan in the third quarter valued at approximately $107,000. Institutional investors 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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