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

Rakuten, Inc. (OTCMKTS:RKUNY) was the target of a significant drop in short interest in September. As of September 15th, there was short interest totaling 6,600 shares, a drop of 71.6% from the August 31st total of 23,200 shares. Based on an average daily trading volume, of 18,400 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 18,400 shares, the days-to-cover ratio is presently 0.4 days.

Wall Street Analyst Weigh In

Separately, Nomura Securities raised shares of Rakuten from a “hold” rating to a “strong-buy” rating in a report on Tuesday, August 26th. Two analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Strong Buy”.

Rakuten Trading Up 0.5%

Shares of RKUNY stock opened at $6.43 on Thursday. Rakuten has a twelve month low of $4.80 and a twelve month high of $7.11. The stock’s fifty day simple moving average is $5.96 and its 200 day simple moving average is $5.70. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.67. The firm has a market capitalization of $13.93 billion, a P/E ratio of -9.89 and a beta of 1.21.

Rakuten (OTCMKTS:RKUNY) last announced its quarterly earnings results on Friday, August 8th. The company reported ($0.16) EPS for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.20). The firm had revenue of $4.04 billion for the quarter, compared to analyst estimates of $3.83 billion. Rakuten had a negative net margin of 8.85% and a negative return on equity of 18.83%. As a group, sell-side analysts predict that Rakuten will post 0.06 EPS for the current fiscal year.

About Rakuten

Rakuten Group, Inc provides services in e-commerce, fintech, digital content, and communications to various users in Japan and internationally. The company operates through three segments: Internet Services, FinTech, and Mobile. The Internet Services segment provides range of e-commerce sites, such as Rakuten Ichiba, an Internet shopping mall, online cash-back sites, travel booking sites, portal sites, and digital content sites.