Short Interest in Rakuten, Inc. (OTCMKTS:RKUNY) Declines By 96.4%

Rakuten, Inc. (OTCMKTS:RKUNY) was the recipient of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 2,062 shares, a drop of 96.4% from the June 15th total of 56,767 shares. Currently, 0.0% of the shares of the company are sold short. Based on an average daily trading volume, of 295,929 shares, the days-to-cover ratio is currently 0.0 days.

Wall Street Analysts Forecast Growth

Separately, Zacks Research upgraded 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 stock. Based on data from MarketBeat, the stock has a consensus rating of “Buy”.

Rakuten Stock Performance

OTCMKTS RKUNY traded up $0.04 during midday trading on Friday, hitting $5.01. The company had a trading volume of 29,288 shares, compared to its average volume of 111,571. The firm has a fifty day simple moving average of $4.76 and a two-hundred day simple moving average of $5.26. Rakuten has a fifty-two week low of $4.24 and a fifty-two week high of $7.04. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.43. The stock has a market cap of $10.92 billion, a price-to-earnings ratio of -13.54 and a beta of 1.12.

Rakuten (OTCMKTS:RKUNY) last announced 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. Rakuten had a negative net margin of 4.83% and a negative return on equity of 10.02%. The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.92 billion.

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.