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

Key Points

• Short interest in Rakuten, Inc. has decreased dramatically by 92.6%, falling from 16,300 shares to just 1,200 shares as of August 15th.
• The company's recent earnings report revealed a loss of ($0.16) per share, significantly below analysts' expectations of $0.04, despite higher-than-expected revenue of $4.04 billion.
• Analysts have a generally positive outlook for Rakuten, with multiple firms upgrading the stock to a "strong-buy" rating in recent months.

Rakuten, Inc. (OTCMKTS:RKUNY - Get Free Report) was the recipient of a significant decrease in short interest in August. As of August 15th, there was short interest totaling 1,200 shares, adecreaseof92.6% from the July 31st total of 16,300 shares. Based on an average daily trading volume, of 26,000 shares, the short-interest ratio is currently 0.0 days. Based on an average daily trading volume, of 26,000 shares, the short-interest ratio is currently 0.0 days.

Rakuten Stock Down 1.3%

Shares of RKUNY traded down $0.08 during midday trading on Friday, reaching $6.06. 10,369 shares of the stock were exchanged, compared to its average volume of 17,742. The company has a market capitalization of $13.12 billion, a P/E ratio of -9.32 and a beta of 1.09. The company has a current ratio of 1.15, a quick ratio of 1.16 and a debt-to-equity ratio of 4.67. Rakuten has a 52 week low of $4.80 and a 52 week high of $7.11. The company's 50 day moving average is $5.56 and its two-hundred day moving average is $5.67.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last released its quarterly earnings data on Friday, August 8th. The company reported ($0.16) earnings per share for the quarter, missing analysts' consensus estimates of $0.04 by ($0.20). The business had revenue of $4.04 billion during the quarter, compared to analysts' expectations of $3.83 billion. Rakuten had a negative return on equity of 18.83% and a negative net margin of 8.85%. On average, sell-side analysts anticipate that Rakuten will post 0.06 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on RKUNY shares. Nomura Securities upgraded shares of Rakuten from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, August 26th. CLSA upgraded Rakuten to a "strong-buy" rating in a research note on Thursday, May 29th. Two investment analysts have rated the stock with a Strong Buy rating, According to data from MarketBeat, the stock has an average 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.