Short Interest in Rakuten, Inc. (OTCMKTS:RKUNY) Drops By 48.4%

Key Points

• Short interest in Rakuten, Inc. dropped by 48.4% in July, falling from 31,600 shares to 16,300 shares, resulting in 0.0% of shares being short sold.
• Analysts have recently raised Rakuten's ratings, with CLSA upgrading it to a "strong-buy" and Nomura Securities assigning a "hold" rating.
• In its latest earnings report, Rakuten missed EPS estimates, reporting a loss of ($0.16), despite generating revenues of $4.04 billion, which surpassed analyst expectations.

Rakuten, Inc. (OTCMKTS:RKUNY - Get Free Report) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 16,300 shares, adropof48.4% from the July 15th total of 31,600 shares. Currently,0.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 29,000 shares, the days-to-cover ratio is presently 0.6 days. Based on an average daily trading volume, of 29,000 shares, the days-to-cover ratio is presently 0.6 days. Currently,0.0% of the shares of the stock are short sold.

Analysts Set New Price Targets

RKUNY has been the subject of a number of analyst reports. CLSA raised Rakuten to a "strong-buy" rating in a report on Thursday, May 29th. Nomura Securities raised Rakuten to a "hold" rating in a report on Tuesday, May 27th.

Rakuten Stock Performance

OTCMKTS:RKUNY traded up $0.12 during trading hours on Monday, reaching $5.92. 3,281 shares of the stock were exchanged, compared to its average volume of 24,508. The firm has a 50 day simple moving average of $5.40 and a 200-day simple moving average of $5.71. Rakuten has a 52 week low of $4.80 and a 52 week high of $7.27. The stock has a market capitalization of $12.80 billion, a P/E ratio of -9.10 and a beta of 1.04. The company has a quick ratio of 1.16, a current ratio of 1.16 and a debt-to-equity ratio of 4.62.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last posted its earnings results on Friday, August 8th. The company reported ($0.16) EPS for the quarter, missing the consensus estimate of $0.04 by ($0.20). Rakuten had a negative net margin of 8.85% and a negative return on equity of 19.13%. The business had revenue of $4.04 billion during the quarter, compared to analyst estimates of $3.83 billion. As a group, sell-side analysts forecast that Rakuten will post 0.06 earnings per share for the current fiscal year.

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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