Rakuten (OTCMKTS:RKUNY) Stock Price Down 16.6% – Here’s What Happened

Rakuten, Inc. (OTCMKTS:RKUNY) shares fell 16.6% on Thursday . The company traded as low as $4.77 and last traded at $4.77. Approximately 1,223 shares changed hands during mid-day trading, a decline of 98% from the average daily volume of 67,918 shares. The stock had previously closed at $5.72.

Analyst Upgrades and Downgrades

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

Rakuten Price Performance

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 company has a 50 day simple moving average of $4.87 and a 200 day simple moving average of $5.05. The stock has a market cap of $10.45 billion, a P/E ratio of -25.21 and a beta of 1.11.

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