Short Interest in Reborn Coffee, Inc. (NASDAQ:REBN) Drops By 20.3%

Reborn Coffee, Inc. (NASDAQ:REBN) was the target of a significant decrease in short interest during the month of February. As of February 28th, there was short interest totalling 323,300 shares, a decrease of 20.3% from the February 13th total of 405,700 shares. Currently, 16.8% of the shares of the company are sold short. Based on an average trading volume of 2,600,000 shares, the short-interest ratio is currently 0.1 days.

Hedge Funds Weigh In On Reborn Coffee

An institutional investor recently raised its position in Reborn Coffee stock. Citadel Advisors LLC boosted its stake in Reborn Coffee, Inc. (NASDAQ:REBN) by 33.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 22,177 shares of the company’s stock after buying an additional 5,554 shares during the period. Citadel Advisors LLC owned 0.60% of Reborn Coffee worth $37,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 1.76% of the company’s stock.

Reborn Coffee Stock Performance

Shares of Reborn Coffee stock traded up $0.08 during trading on Tuesday, hitting $4.85. 154,115 shares of the stock were exchanged, compared to its average volume of 1,219,923. The stock’s fifty day moving average is $3.50 and its 200 day moving average is $2.59. The stock has a market cap of $17.81 million, a PE ratio of -3.34 and a beta of 2.17. The company has a debt-to-equity ratio of 0.19, a quick ratio of 0.34 and a current ratio of 0.41. Reborn Coffee has a 12 month low of $0.95 and a 12 month high of $8.80.

Reborn Coffee Company Profile

Reborn Coffee, Inc, through its subsidiaries, operates and franchises retail locations, kiosks, and cafes that focus on serving specialty-roasted coffee in California. It purchases, roasts, and sells coffee, tea and other beverages, and various food items. It offers products in various form factors, such as whole bean roasted coffee bags, single-serve drip bags, and pour over packs.