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 recipient of a significant growth in short interest in the month of 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. Based on an average trading volume of 46,200 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.0% of the shares of the company are short sold. Currently, 0.0% of the shares of the company are short sold. Based on an average trading volume of 46,200 shares, the days-to-cover ratio is currently 0.5 days.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. Nomura Securities upgraded shares of Rakuten from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. CLSA raised shares of Rakuten to a "strong-buy" rating in a report on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the company presently has a consensus rating of "Strong Buy".

Rakuten Price Performance

Rakuten stock traded down $0.02 during mid-day trading on Thursday, reaching $6.34. 915 shares of the company's stock traded hands, compared to its average volume of 23,776. The company has a market cap of $13.73 billion, a price-to-earnings ratio of -9.75 and a beta of 1.09. The stock has a 50 day moving average of $5.61 and a two-hundred day moving average of $5.67. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 4.67. Rakuten has a 12-month low of $4.80 and a 12-month high of $7.11.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last released 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). The business had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.83 billion. Rakuten had a negative net margin of 8.85% and a negative return on equity of 18.83%. Equities analysts forecast 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.

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