Rakuten (OTCMKTS:RKUNY) Sees Large Volume Increase on Earnings Beat

Rakuten, Inc. (OTCMKTS:RKUNY) shares saw an uptick in trading volume on Monday after the company announced better than expected quarterly earnings. 56,923 shares changed hands during mid-day trading, a decline of 16% from the previous session’s volume of 68,099 shares.The stock last traded at $5.50 and had previously closed at $5.44.

The company reported $0.02 earnings per share for the quarter, beating the consensus estimate of ($0.06) by $0.08. Rakuten had a negative net margin of 4.83% and a negative return on equity of 10.02%.

Wall Street Analyst Weigh In

Separately, Zacks Research upgraded shares of Rakuten from a “strong sell” rating to a “hold” rating in a research note on Monday, April 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat.com, Rakuten currently has an average rating of “Buy”.

Rakuten Trading Down 2.3%

The firm has a fifty day moving average of $4.84 and a two-hundred day moving average of $5.07. The company has a market cap of $12.00 billion, a PE ratio of -14.86 and a beta of 1.11. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.43.

Rakuten Company Profile

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.