Rakuten, Inc. (OTCMKTS:RKUNY) Sees Significant Increase in Short Interest

Rakuten, Inc. (OTCMKTS:RKUNY) saw a significant growth in short interest in July. As of July 15th, there was short interest totaling 25,001 shares, a growth of 1,112.5% from the June 30th total of 2,062 shares. Based on an average daily trading volume, of 138,899 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.0% of the company’s shares are sold short.

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 investment analyst has rated the stock with a Strong Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Rakuten presently has a consensus rating of “Buy”.

Rakuten Stock Up 0.3%

Shares of RKUNY traded up $0.01 during trading hours on Friday, reaching $4.82. The company’s stock had a trading volume of 35,106 shares, compared to its average volume of 81,538. The company has a 50 day moving average of $4.76 and a two-hundred day moving average of $5.16. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.43. The firm has a market cap of $10.50 billion, a price-to-earnings ratio of -13.01 and a beta of 1.12. Rakuten has a 1-year low of $4.24 and a 1-year high of $7.04.

Rakuten (OTCMKTS:RKUNY) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.05) 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 business had revenue of $4.07 billion during the quarter, compared to analysts’ expectations of $3.92 billion.

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.