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

Rakuten, Inc. (OTCMKTS:RKUNY) was the target of a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 25,001 shares, a growth of 1,112.5% from the June 30th total of 2,062 shares. Currently, 0.0% of the company’s stock are sold short. Based on an average daily volume of 138,899 shares, the days-to-cover ratio is presently 0.2 days.

Rakuten Stock Up 0.3%

Shares of OTCMKTS:RKUNY traded up $0.01 during midday trading on Friday, reaching $4.82. The company had a trading volume of 35,106 shares, compared to its average volume of 81,538. The stock has a market capitalization of $10.50 billion, a P/E ratio of -13.01 and a beta of 1.12. The stock’s fifty day moving average price is $4.76 and its 200-day moving average price is $5.16. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.15 and a quick ratio of 1.15. Rakuten has a one year low of $4.24 and a one year high of $7.04.

Rakuten (OTCMKTS:RKUNY) last posted its quarterly earnings data on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to the consensus estimate of $3.92 billion. Rakuten had a negative net margin of 4.83% and a negative return on equity of 10.02%.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised shares of Rakuten from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. One research 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, the stock presently has an average rating of “Buy”.

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.