Rakuten, Inc. (OTCMKTS:RKUNY) Short Interest Down 35.8% in June

Rakuten, Inc. (OTCMKTS:RKUNY) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 56,767 shares, a drop of 35.8% from the May 31st total of 88,426 shares. Approximately 0.0% of the shares of the company are sold short. Based on an average daily volume of 200,120 shares, the days-to-cover ratio is currently 0.3 days.

Analyst Ratings Changes

Separately, Zacks Research upgraded shares of Rakuten from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Buy”.

Rakuten Stock Performance

Shares of OTCMKTS:RKUNY remained flat at $4.49 during trading on Thursday. The stock had a trading volume of 60,528 shares, compared to its average volume of 125,800. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 4.43. The stock has a fifty day moving average of $4.78 and a two-hundred day moving average of $5.32. The company has a market cap of $9.79 billion, a PE ratio of -12.13 and a beta of 1.12. Rakuten has a 12-month low of $4.24 and a 12-month high of $7.04.

Rakuten (OTCMKTS:RKUNY) last posted its quarterly earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Rakuten had a negative return on equity of 10.02% and a negative net margin of 4.83%.The business had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.92 billion.

About Rakuten

Rakuten, Inc is a diversified internet services company based in Tokyo, Japan, and founded in 1997 by Hiroshi Mikitani, who continues to serve as chairman and chief executive officer. Originally established as an online marketplace, Rakuten has expanded its reach to become a global technology group offering a wide range of digital services and consumer-facing platforms. The company is listed in Japan but its American depositary receipts trade over the counter under the symbol RKUNY.

At the core of Rakuten’s business is its e-commerce marketplace, Rakuten Ichiba, which hosts millions of merchants and serves tens of millions of customers across Japan and other key markets.