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3 Stocks Pushing The Internet Industry Lower

Editor's Note: Any reference to TheStreet Ratings and its underlying recommendation does not reflect the opinion of TheStreet, Inc. or any of its contributors including Jim Cramer or Stephanie Link.

The Internet industry as a whole closed the day down 2.0% versus the S&P 500, which was down 1.1%. Laggards within the Internet industry included LookSmart ( LOOK), down 9.4%, Net Element ( NETE), down 7.4%, ChinaNet Online Holdings ( CNET), down 2.6%, Internet Initiative Japan ( IIJI), down 3.3% and SMTP ( SMTP), down 1.9%.

TheStreet Ratings Group would like to highlight 3 stocks that pushed the industry lower today:

Internet Initiative Japan ( IIJI) is one of the companies that pushed the Internet industry lower today. Internet Initiative Japan was down $0.39 (3.3%) to $11.54 on average volume. Throughout the day, 5,090 shares of Internet Initiative Japan exchanged hands as compared to its average daily volume of 4,100 shares. The stock ranged in price between $11.54-$11.74 after having opened the day at $11.74 as compared to the previous trading day's close of $11.93.

Internet Initiative Japan Inc., together with its subsidiaries, offers Internet connectivity, WAN, outsourcing, and systems integration services primarily in Japan. The company operates in two segments: Network Services and Systems Integration Business, and ATM Operation Business. Internet Initiative Japan has a market cap of $1.1 billion and is part of the technology sector. Shares are down 9.8% year-to-date as of the close of trading on Wednesday.

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TheStreet Ratings rates Internet Initiative Japan as a buy. The company's strengths can be seen in multiple areas, such as its revenue growth, reasonable valuation levels and largely solid financial position with reasonable debt levels by most measures. We feel these strengths outweigh the fact that the company has had somewhat weak growth in earnings per share.

Highlights from TheStreet Ratings analysis on IIJI go as follows:

  • The revenue growth came in higher than the industry average of 21.2%. Since the same quarter one year prior, revenues rose by 33.0%. This growth in revenue does not appear to have trickled down to the company's bottom line, displayed by a decline in earnings per share.
  • Despite currently having a low debt-to-equity ratio of 0.31, it is higher than that of the industry average, inferring that management of debt levels may need to be evaluated further. Regardless of the somewhat mixed results with the debt-to-equity ratio, the company's quick ratio of 1.28 is sturdy.
  • Despite any intermediate fluctuations, we have only bad news to report on this stock's performance over the last year: it has tumbled by 31.47%, worse than the S&P 500's performance. Consistent with the plunge in the stock price, the company's earnings per share are down 32.00% compared to the year-earlier quarter. Looking ahead, the stock's sharp decline over the past year may have been what was needed in order to bring its value into alignment with its fundamentals and others in its industry.
  • INTERNET INITIATIVE JAPAN INC's earnings per share declined by 32.0% in the most recent quarter compared to the same quarter a year ago. The company has suffered a declining pattern earnings per share over the past two years. During the past fiscal year, INTERNET INITIATIVE JAPAN INC reported lower earnings of $0.49 versus $0.69 in the prior year.

You can view the full analysis from the report here: Internet Initiative Japan Ratings Report

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