Rakuten (OTCMKTS:RKUNY) Stock Jumps 8% – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY) shares traded up 8% on Monday. The company traded as high as $4.20 and last traded at $4.20. Approximately 4,412 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 79,818 shares. The stock had previously closed at $3.89.

Wall Street Analysts Forecast Growth

Separately, Zacks Research raised Rakuten to a “hold” rating in a report on Friday, September 25th. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company presently has a consensus rating of “Hold”.

Rakuten Stock Performance

The firm has a market cap of $8.72 billion, a price-to-earnings ratio of -21.01 and a beta of 1.12. The stock’s 50 day moving average is $4.58 and its 200 day moving average is $4.78. The company has a current ratio of 1.10, a quick ratio of 1.10 and a debt-to-equity ratio of 3.64.

Rakuten (OTCMKTS:RKUNY) last released its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.09. Rakuten had a negative net margin of 2.48% and a negative return on equity of 5.09%. The firm had revenue of $4.18 billion for the quarter, compared to analysts’ expectations of $4.11 billion. Analysts anticipate that Rakuten, Inc. will post -0.12 earnings per share for the current year.

About Rakuten

Rakuten Group, Inc is a Japan-based technology and internet services company founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer.