Rakuten (OTCMKTS:RKUNY) Sets New 52-Week Low – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY)’s stock price reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $4.60 and last traded at $4.60, with a volume of 1578 shares changing hands. The stock had previously closed at $4.74.

Wall Street Analysts Forecast Growth

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

Rakuten Stock Performance

The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.11. The stock’s fifty day moving average is $5.69 and its two-hundred day moving average is $6.09. The firm has a market capitalization of $10.05 billion, a price-to-earnings ratio of -8.57 and a beta of 1.21.

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

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.