Short Interest in Rakuten, Inc. (OTCMKTS:RKUNY) Grows By 1,112.5%

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

Rakuten Trading Up 0.3%

Shares of OTCMKTS RKUNY opened at $4.82 on Friday. Rakuten has a fifty-two week low of $4.24 and a fifty-two week high of $7.04. The firm has a market capitalization of $10.50 billion, a P/E ratio of -13.01 and a beta of 1.12. The company has a debt-to-equity ratio of 4.43, a current ratio of 1.15 and a quick ratio of 1.15. The company’s 50 day simple moving average is $4.76 and its 200 day simple moving average is $5.16.

Rakuten (OTCMKTS:RKUNY) last released its earnings results on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The firm had revenue of $4.07 billion during the quarter, compared to analyst estimates 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 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus 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.