Rakuten (OTCMKTS:RKUNY) Trading Down 5.6% – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY)’s stock price traded down 5.6% on Thursday . The stock traded as low as $4.78 and last traded at $4.85. 132,319 shares were traded during trading, an increase of 146% from the average session volume of 53,737 shares. The stock had previously closed at $5.14.

Analyst Upgrades and Downgrades

Separately, Zacks Research upgraded Rakuten from a “strong sell” rating to a “hold” rating in a report on Monday, April 27th. Two analysts have rated the stock with a Strong Buy rating and one has issued a Hold rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Buy”.

Rakuten Price Performance

The stock has a market cap of $10.48 billion, a P/E ratio of -13.03 and a beta of 1.15. The company has a 50 day simple moving average of $4.90 and a 200 day simple moving average of $5.64. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.11.

Rakuten (OTCMKTS:RKUNY) last released its earnings results on Thursday, May 14th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. The firm had revenue of $4.07 billion for the quarter, compared to analysts’ expectations of $3.92 billion. Rakuten had a negative return on equity of 9.99% and a negative net margin of 4.83%. Sell-side analysts forecast that Rakuten, Inc. will post -0.07 earnings per share for the current fiscal 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.