Rakuten (OTCMKTS:RKUNY) Shares Down 5.6% – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY)’s share price traded down 5.6% on Thursday . The stock traded as low as $4.78 and last traded at $4.85. 132,319 shares traded hands during trading, an increase of 146% from the average session volume of 53,737 shares. The stock had previously closed at $5.14.

Analysts Set New Price Targets

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

Rakuten Stock Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.11. The stock has a 50 day simple moving average of $4.89 and a 200 day simple moving average of $5.63. The company has a market capitalization of $10.78 billion, a price-to-earnings ratio of -13.41 and a beta of 1.15.

Rakuten (OTCMKTS:RKUNY) last issued its earnings results on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates 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 company had revenue of $4.07 billion during the quarter, compared to the consensus estimate of $3.92 billion. As a group, analysts anticipate that Rakuten, Inc. will post -0.07 earnings per share 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.