Short Interest in Rakuten Group, Inc. (OTCMKTS:RKUNY) Declines By 37.2%

Rakuten Group, Inc. (OTCMKTS:RKUNYGet Rating) saw a large drop in short interest in the month of March. As of March 31st, there was short interest totalling 37,700 shares, a drop of 37.2% from the March 15th total of 60,000 shares. Based on an average daily trading volume, of 91,100 shares, the days-to-cover ratio is currently 0.4 days.

Shares of RKUNY traded down $0.05 during trading hours on Friday, reaching $7.34. The stock had a trading volume of 34,045 shares, compared to its average volume of 39,820. The firm has a 50-day simple moving average of $8.05 and a 200 day simple moving average of $9.37. Rakuten Group has a 12 month low of $7.32 and a 12 month high of $13.61.

Separately, Zacks Investment Research cut Rakuten Group from a “hold” rating to a “sell” rating in a report on Wednesday, April 6th.

Rakuten Group Company Profile (Get Rating)

Rakuten Group, Inc offers internet services in Japan and internationally. It operates through three segments: Internet Services, FinTech, and Mobile segments. The Internet Services segment operates Rakuten Ichiba, an internet shopping mall; Rakuten Travel, online travel and reservation website; Rakuten Rewards, a membership-based online cashback site; Rakuten Fashion, a fashion mail order site; Rakuten Books, an online book, CD, and DVD stores; Rakuten 24 daily necessities sales service; Rakuten Seiyu Netsuper, an online grocery delivery service; Rakuten Bic, an electronics e-commerce site; Rakuten Rebates, a point-back service; Rakuma, a consumer-to-consumer mobile e-commerce app; Rakuten Super Logistics, a distribution and fulfillment services; Rakuten Drone, Drone/UGV delivery service; Rakuten Gora, an online golf course reservations; and Rakuten Marketing that provides performance marketing services.

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