Short Interest in Reborn Coffee, Inc. (NASDAQ:REBN) Decreases By 40.6%

Reborn Coffee, Inc. (NASDAQ:REBN) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 192,200 shares, a drop of 40.6% from the February 28th total of 323,300 shares. Currently, 10.8% of the company’s stock are short sold. Based on an average daily volume of 2,600,000 shares, the days-to-cover ratio is currently 0.1 days.

Reborn Coffee Stock Down 6.5 %

Shares of NASDAQ:REBN traded down $0.26 during trading on Friday, hitting $3.75. 157,609 shares of the company were exchanged, compared to its average volume of 1,224,992. The firm’s 50 day moving average price is $4.01 and its 200-day moving average price is $2.65. Reborn Coffee has a 12-month low of $1.03 and a 12-month high of $8.80. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.41 and a quick ratio of 0.34. The stock has a market capitalization of $13.77 million, a P/E ratio of -2.59 and a beta of 2.17.

Institutional Investors Weigh In On Reborn Coffee

An institutional investor recently raised its position in Reborn Coffee stock. Citadel Advisors LLC grew its position in shares of Reborn Coffee, Inc. (NASDAQ:REBN) by 33.4% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 22,177 shares of the company’s stock after purchasing an additional 5,554 shares during the quarter. Citadel Advisors LLC owned approximately 0.60% of Reborn Coffee worth $37,000 as of its most recent filing with the SEC. Institutional investors own 1.76% of the company’s stock.

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.