Rakuten (OTCMKTS:RKUNY) Shares Up 7.3% – Time to Buy?

Rakuten, Inc. (OTCMKTS:RKUNY) shares were up 7.3% during mid-day trading on Tuesday . The company traded as high as $5.3120 and last traded at $5.3120. Approximately 42,070 shares traded hands during trading, a decline of 17% from the average daily volume of 50,766 shares. The stock had previously closed at $4.95.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Rakuten from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Two equities research analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, Rakuten has a consensus rating of “Buy”.

Rakuten Trading Up 2.6%

The company has a market capitalization of $11.04 billion, a PE ratio of -13.73 and a beta of 1.15. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.16 and a quick ratio of 1.16. The company’s fifty day moving average is $4.89 and its 200-day moving average is $5.66.

Rakuten (OTCMKTS:RKUNY) last announced its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. Rakuten had a negative return on equity of 9.99% and a negative net margin of 4.83%.The business had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.92 billion. On average, analysts anticipate that Rakuten, Inc. will post -0.07 EPS for the current fiscal 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.