Short Interest in Rakuten, Inc. (OTCMKTS:RKUNY) Decreases By 92.6%

Rakuten, Inc. (OTCMKTS:RKUNY) was the target of a large decrease in short interest in the month of August. As of August 15th, there was short interest totaling 1,200 shares, adecreaseof92.6% from the July 31st total of 16,300 shares. Based on an average daily volume of 26,000 shares, the days-to-cover ratio is presently 0.0 days. Based on an average daily volume of 26,000 shares, the days-to-cover ratio is presently 0.0 days.

Rakuten Stock Performance

RKUNY stock traded down $0.15 during mid-day trading on Tuesday, hitting $6.01. The company had a trading volume of 35,170 shares, compared to its average volume of 24,508. The firm has a market cap of $13.01 billion, a PE ratio of -9.25 and a beta of 1.09. The company has a debt-to-equity ratio of 4.62, a quick ratio of 1.16 and a current ratio of 1.16. Rakuten has a 12 month low of $4.80 and a 12 month high of $7.27. The stock’s fifty day moving average price is $5.51 and its two-hundred day moving average price is $5.68.

Rakuten (OTCMKTS:RKUNY) last announced its quarterly earnings data on Friday, August 8th. The company reported ($0.16) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.04 by ($0.20). Rakuten had a negative net margin of 8.85% and a negative return on equity of 19.13%. The firm had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.83 billion. On average, analysts forecast that Rakuten will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

RKUNY has been the subject of several recent analyst reports. Nomura Securities raised shares of Rakuten from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, August 26th. CLSA upgraded Rakuten to a “strong-buy” rating in a report on Thursday, May 29th. Two equities research analysts have rated the stock with a Strong Buy rating, According to MarketBeat, Rakuten presently has an average rating of “Strong Buy”.

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.