Rakuten, Inc. (OTCMKTS:RKUNY) Short Interest Update

Key Points

• Rakuten, Inc. experienced a dramatic increase in short interest, soaring by 1,833.3% from 1,200 shares to 23,200 shares as of August 31st.
• Analysts have upgraded Rakuten's rating to "strong-buy", with two investment firms affirming this stance amidst a consensus rating of the same.
• Despite reporting a revenue of $4.04 billion for the quarter, Rakuten missed earnings expectations by ($0.20), posting an EPS of ($0.16).

Rakuten, Inc. (OTCMKTS:RKUNY - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 23,200 shares, a growth of 1,833.3% from the August 15th total of 1,200 shares. Currently, 0.0% of the shares of the stock are short sold. Based on an average trading volume of 46,200 shares, the short-interest ratio is currently 0.5 days. Based on an average trading volume of 46,200 shares, the short-interest ratio is currently 0.5 days. Currently, 0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

RKUNY has been the topic of several recent research reports. CLSA upgraded Rakuten to a "strong-buy" rating in a report on Thursday, May 29th. Nomura Securities upgraded Rakuten from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. Two investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat.com, the company presently has an average rating of "Strong Buy".

Rakuten Stock Up 1.7%

Shares of RKUNY traded up $0.11 during midday trading on Tuesday, reaching $6.61. 11,618 shares of the stock were exchanged, compared to its average volume of 23,511. Rakuten has a 52 week low of $4.80 and a 52 week high of $7.11. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.67. The company's 50 day moving average is $5.68 and its two-hundred day moving average is $5.66. The company has a market capitalization of $14.30 billion, a P/E ratio of -10.16 and a beta of 1.09.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last posted its quarterly earnings results on Friday, August 8th. The company reported ($0.16) earnings per share (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 firm had revenue of $4.04 billion for the quarter, compared to the consensus estimate of $3.83 billion. On average, sell-side analysts anticipate that Rakuten will post 0.06 earnings per share for the current year.

About Rakuten

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.