Rakuten, Inc. (OTCMKTS:RKUNY) Sees Large Decline in Short Interest

Rakuten, Inc. (OTCMKTS:RKUNY) saw a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 56,767 shares, a drop of 35.8% from the May 31st total of 88,426 shares. Based on an average trading volume of 200,120 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the company’s stock are sold short.

Rakuten Trading Up 1.8%

Rakuten stock opened at $4.57 on Friday. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.43. The business’s fifty day simple moving average is $4.77 and its two-hundred day simple moving average is $5.31. Rakuten has a 12 month low of $4.24 and a 12 month high of $7.04. The company has a market capitalization of $9.96 billion, a price-to-earnings ratio of -12.35 and a beta of 1.12.

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

Analyst Ratings Changes

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

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.