Rakuten (OTCMKTS:RKUNY) Trading Down 5.6% – Here’s Why

Rakuten, Inc. (OTCMKTS:RKUNY) shares fell 5.6% during trading on Thursday . The company traded as low as $4.78 and last traded at $4.85. 132,319 shares were traded during mid-day trading, an increase of 146% from the average session volume of 53,737 shares. The stock had previously closed at $5.14.

Analyst Ratings Changes

Separately, Zacks Research upgraded Rakuten from a “strong sell” rating to a “hold” rating in a research report on Monday, April 27th. Two investment analysts have rated the stock with a Strong Buy rating and one has given a Hold rating to the stock. Based on data from MarketBeat.com, Rakuten currently has an average rating of “Buy”.

Rakuten Stock Performance

The stock has a 50-day moving average of $4.90 and a 200 day moving average of $5.64. The company has a debt-to-equity ratio of 4.11, a current ratio of 1.16 and a quick ratio of 1.16. The stock has a market capitalization of $10.48 billion, a price-to-earnings ratio of -13.03 and a beta of 1.15.

Rakuten (OTCMKTS:RKUNY) last posted its earnings results on Thursday, May 14th. The company reported ($0.05) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.12) by $0.07. The company had revenue of $4.07 billion during the quarter, compared to analyst estimates of $3.92 billion. Rakuten had a negative return on equity of 9.99% and a negative net margin of 4.83%. On average, analysts expect that Rakuten, Inc. will post -0.07 EPS for the current year.

Rakuten Company Profile

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.