Rakuten (OTCMKTS:RKUNY) Shares Gap Up – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY) shares gapped up before the market opened on Monday . The stock had previously closed at $4.6950, but opened at $4.95. Rakuten shares last traded at $5.00, with a volume of 8,912 shares.

Wall Street Analyst Weigh In

Separately, Zacks Research downgraded Rakuten from a “hold” rating to a “strong sell” rating in a research report on Wednesday, March 4th. Two equities research analysts have rated the stock with a Strong Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, Rakuten has an average rating of “Buy”.

Rakuten Trading Up 2.7%

The company has a fifty day simple moving average of $5.32 and a two-hundred day simple moving average of $5.95. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.11. The company has a market cap of $10.47 billion, a PE ratio of -8.93 and a beta of 1.20.

Rakuten (OTCMKTS:RKUNY) last announced its quarterly earnings data on Thursday, February 12th. The company reported ($0.08) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.04) by ($0.04). Rakuten had a negative net margin of 7.13% and a negative return on equity of 14.73%. The company had revenue of $4.61 billion during the quarter, compared to analysts’ expectations of $4.15 billion. Analysts anticipate that Rakuten, Inc. will post 0.06 EPS for the current year.

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.