Reborn Coffee (NASDAQ:REBN) Trading Down 3% – Here’s What Happened

Reborn Coffee, Inc. (NASDAQ:REBN)’s share price traded down 3% during trading on Thursday . The company traded as low as $2.89 and last traded at $2.90. 13,121 shares changed hands during trading, a decline of 98% from the average session volume of 728,008 shares. The stock had previously closed at $2.99.

Reborn Coffee Trading Down 3.0 %

The company has a debt-to-equity ratio of 0.34, a current ratio of 0.45 and a quick ratio of 0.37. The business has a 50 day moving average of $3.42 and a 200 day moving average of $3.61. The firm has a market capitalization of $6.07 million, a price-to-earnings ratio of -1.46 and a beta of 2.91.

Reborn Coffee (NASDAQ:REBN) last announced its quarterly earnings data on Monday, August 19th. The company reported ($0.48) EPS for the quarter. Reborn Coffee had a negative return on equity of 196.20% and a negative net margin of 65.25%. The company had revenue of $1.37 million for the quarter.

Institutional Investors Weigh In On Reborn Coffee

A hedge fund recently bought a new stake in Reborn Coffee stock. Renaissance Technologies LLC bought a new position in shares of Reborn Coffee, Inc. (NASDAQ:REBN) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 15,000 shares of the company’s stock, valued at approximately $105,000. Renaissance Technologies LLC owned approximately 0.45% of Reborn Coffee at the end of the most recent quarter. 1.76% of the stock is currently owned by institutional investors.

About Reborn Coffee

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.