Rakuten (OTCMKTS:RKUNY) Shares Gap Down – Here’s What Happened

Rakuten, Inc. (OTCMKTS:RKUNY)’s stock price gapped down before the market opened on Wednesday . The stock had previously closed at $4.78, but opened at $4.60. Rakuten shares last traded at $4.6110, with a volume of 6,616 shares changing hands.

Rakuten Price Performance

The firm has a market capitalization of $10.08 billion, a P/E ratio of -24.32 and a beta of 1.11. The business’s fifty day moving average is $4.92 and its 200 day moving average is $4.94. 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 (OTCMKTS:RKUNY) last posted its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share (EPS) for the quarter, topping 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 5.08%. The firm had revenue of $4.18 billion for the quarter, compared to analyst estimates of $4.11 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.