Rakuten, Inc. (OTCMKTS:RKUNY) Short Interest Down 71.6% in September

Key Points

• Rakuten, Inc.'s short interest decreased by 71.6% in September, dropping from 23,200 shares to 6,600 shares.
• The company reported a quarterly EPS of (0.16), which was significantly below analysts' estimates of 0.04, despite revenue surpassing expectations at $4.04 billion.
• Nomura Securities upgraded Rakuten's rating from "hold" to "strong-buy", contributing to a consensus rating of "Strong Buy" among analysts.

Rakuten, Inc. (OTCMKTS:RKUNY - Get Free Report) was the target of a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 6,600 shares, a decline of 71.6% from the August 31st total of 23,200 shares. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is currently 0.4 days. Based on an average daily volume of 18,400 shares, the days-to-cover ratio is currently 0.4 days.

Rakuten Price Performance

Shares of OTCMKTS RKUNY opened at $6.43 on Thursday. The business has a fifty day moving average price of $5.96 and a two-hundred day moving average price of $5.70. The stock has a market capitalization of $13.93 billion, a PE ratio of -9.89 and a beta of 1.21. The company has a debt-to-equity ratio of 4.67, a current ratio of 1.15 and a quick ratio of 1.15. Rakuten has a fifty-two week low of $4.80 and a fifty-two week high of $7.11.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last issued its quarterly earnings results on Friday, August 8th. The company reported ($0.16) EPS for the quarter, missing analysts' consensus estimates of $0.04 by ($0.20). Rakuten had a negative return on equity of 18.83% and a negative net margin of 8.85%.The company had revenue of $4.04 billion during the quarter, compared to the consensus estimate of $3.83 billion. As a group, equities analysts predict that Rakuten will post 0.06 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, Nomura Securities upgraded Rakuten from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, August 26th. Two research analysts have rated the stock with a Strong Buy rating, Based on data from MarketBeat.com, Rakuten has a consensus rating of "Strong Buy".

Rakuten Company Profile

Rakuten Group, Inc provides services in e-commerce, fintech, digital content, and communications to various users in Japan and internationally. The company operates through three segments: Internet Services, FinTech, and Mobile. The Internet Services segment provides range of e-commerce sites, such as Rakuten Ichiba, an Internet shopping mall, online cash-back sites, travel booking sites, portal sites, and digital content sites.

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