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

Rakuten, Inc. (OTCMKTS:RKUNY) was the recipient of a large growth in short interest in July. As of July 31st, there was short interest totaling 42,248 shares, a growth of 69.0% from the July 15th total of 25,001 shares. Based on an average trading volume of 125,077 shares, the short-interest ratio is presently 0.3 days. Approximately 0.0% of the company’s stock are sold short.

Rakuten Trading Down 0.6%

OTCMKTS RKUNY opened at $4.84 on Wednesday. Rakuten has a 12 month low of $4.24 and a 12 month high of $7.04. 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 stock’s fifty day moving average price is $4.87 and its 200-day moving average price is $5.03. The stock has a market cap of $10.56 billion, a P/E ratio of -25.47 and a beta of 1.11.

Rakuten (OTCMKTS:RKUNY) last announced its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.11 billion.

Analysts Set New Price Targets

Separately, Zacks Research upgraded Rakuten from a “strong sell” rating to a “hold” rating in a research 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 stock. According to data from MarketBeat.com, Rakuten has a consensus rating of “Buy”.

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.