Rakuten, Inc. (OTCMKTS:RKUNY) Sees Significant Drop in Short Interest

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 significant drop in short interest during 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 company are sold short. Based on an average daily trading volume, of 29,000 shares, the short-interest ratio is currently 0.6 days. Based on an average daily trading volume, of 29,000 shares, the short-interest ratio is currently 0.6 days. Currently,0.0% of the shares of the company are sold short.

Analyst Ratings Changes

A number of research analysts have issued reports on RKUNY shares. CLSA raised shares of Rakuten to a "strong-buy" rating in a report on Thursday, May 29th. Nomura Securities raised shares of Rakuten to a "hold" rating in a report on Tuesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, Rakuten presently has an average rating of "Buy".

Rakuten Stock Performance

Shares of RKUNY stock traded up $0.2910 during trading hours on Friday, hitting $6.1610. The company's stock had a trading volume of 9,965 shares, compared to its average volume of 14,143. The company has a 50 day moving average of $5.43 and a 200 day moving average of $5.71. Rakuten has a 12-month low of $4.80 and a 12-month high of $7.27. The stock has a market cap of $13.34 billion, a PE ratio of -9.48 and a beta of 1.04. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 4.62.

Rakuten (OTCMKTS:RKUNY - Get Free Report) last announced 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 19.13% and a negative net margin of 8.85%.The firm had revenue of $4.04 billion for the quarter, compared to analysts' expectations of $3.83 billion. On average, sell-side analysts forecast that Rakuten will post 0.06 EPS 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.