Rakuten (OTCMKTS:RKUNY) Shares Gap Up – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY) shares gapped up before the market opened on Friday . The stock had previously closed at $4.6192, but opened at $4.80. Rakuten shares last traded at $4.80, with a volume of 3,459 shares traded.

Rakuten Stock Up 2.0%

The stock has a market cap of $10.40 billion, a PE ratio of -25.08 and a beta of 1.10. The business has a 50 day moving average price of $4.94 and a 200 day moving average price of $4.92. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.43.

Rakuten (OTCMKTS:RKUNY) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.07) by $0.09. The company had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.11 billion. Rakuten had a negative return on equity of 5.08% and a negative net margin of 2.48%.

Rakuten Company Profile

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.