Reborn Coffee (NASDAQ:REBN) Trading 3.4% Higher – Here’s What Happened

Reborn Coffee, Inc. (NASDAQ:REBN) shares traded up 3.4% on Wednesday . The stock traded as high as $1.59 and last traded at $1.51. 20,630 shares traded hands during trading, a decline of 66% from the average session volume of 59,856 shares. The stock had previously closed at $1.46.

Reborn Coffee Stock Performance

The company has a market cap of $5.54 million, a P/E ratio of -1.04 and a beta of 2.20. The company’s 50-day moving average is $1.36 and its two-hundred day moving average is $2.67. The company has a quick ratio of 0.34, a current ratio of 0.41 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Reborn Coffee

An institutional investor recently bought a new position in Reborn Coffee stock. Renaissance Technologies LLC bought a new position in shares of Reborn Coffee, Inc. (NASDAQ:REBN) in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm bought 15,000 shares of the company’s stock, valued at approximately $105,000. Renaissance Technologies LLC owned 0.45% of Reborn Coffee as of its most recent SEC filing. Hedge funds and other institutional investors own 1.76% of the company’s stock.

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.