Rakuten (OTCMKTS:RKUNY) Shares Gap Down – Here’s What Happened

Shares of Rakuten, Inc. (OTCMKTS:RKUNY) gapped down prior to trading on Friday . The stock had previously closed at $6.40, but opened at $6.15. Rakuten shares last traded at $6.50, with a volume of 1,865 shares trading hands.

Rakuten Price Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.70. The stock has a market capitalization of $14.00 billion, a price-to-earnings ratio of -12.91 and a beta of 1.19. The business’s 50 day simple moving average is $6.24 and its 200-day simple moving average is $5.99.

Rakuten (OTCMKTS:RKUNY) last issued its quarterly earnings results on Thursday, November 13th. The company reported ($0.08) earnings per share for the quarter, missing analysts’ consensus estimates of $0.07 by ($0.15). The firm had revenue of $4.08 billion for the quarter, compared to the consensus estimate of $4.21 billion. Rakuten had a negative return on equity of 13.96% and a negative net margin of 6.67%. On average, research analysts forecast that Rakuten, Inc. will post 0.06 earnings per share for the current year.

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.