Rakuten, Inc. (OTCMKTS:RKUNY) Short Interest Up 69.0% in July

Rakuten, Inc. (OTCMKTS:RKUNY) was the target of a large increase in short interest in July. As of July 31st, there was short interest totaling 42,248 shares, an increase of 69.0% from the July 15th total of 25,001 shares. Based on an average daily trading volume, of 125,077 shares, the short-interest ratio is currently 0.3 days. Approximately 0.0% of the company’s shares are sold short.

Analysts Set New Price Targets

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

Rakuten Stock Up 1.7%

Shares of Rakuten stock opened at $4.87 on Tuesday. The business’s 50 day simple moving average is $4.87 and its 200 day simple moving average is $5.03. Rakuten has a 52-week low of $4.24 and a 52-week high of $7.04. The firm has a market cap of $10.62 billion, a PE ratio of -25.63 and a beta of 1.11. The company has a debt-to-equity ratio of 4.43, a quick ratio of 1.15 and a current ratio of 1.15.

Rakuten (OTCMKTS:RKUNY) last released its quarterly earnings results on Friday, August 14th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.09. Rakuten had a negative return on equity of 5.08% and a negative net margin of 2.48%.The firm had revenue of $4.18 billion during the quarter, compared to the consensus estimate of $4.11 billion.

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.