Rakuten (OTCMKTS:RKUNY) Trading Up 7.7% – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY) traded up 7.7% during mid-day trading on Monday . The stock traded as high as $4.7190 and last traded at $4.7190. Approximately 2,646 shares were traded during mid-day trading, a decline of 96% from the average session volume of 66,842 shares. The stock had previously closed at $4.38.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Rakuten from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company. Based on data from MarketBeat, Rakuten has an average rating of “Buy”.

Rakuten Stock Performance

The firm has a market cap of $10.15 billion, a P/E ratio of -12.59 and a beta of 1.12. The company’s 50 day moving average is $4.83 and its 200 day moving average is $5.35. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.15 and a current ratio of 1.15.

Rakuten (OTCMKTS:RKUNY) last posted its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. Rakuten had a negative net margin of 4.83% and a negative return on equity of 10.02%. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.92 billion.

About Rakuten

Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.

At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.