Reborn Coffee (NASDAQ:REBN) Stock Price Down 13.5% – Here’s Why

Reborn Coffee, Inc. (NASDAQ:REBN)’s stock price was down 13.5% during mid-day trading on Monday . The company traded as low as $3.91 and last traded at $3.96. Approximately 269,995 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 1,224,937 shares. The stock had previously closed at $4.58.

Reborn Coffee Price Performance

The business’s 50 day moving average is $3.35 and its 200-day moving average is $2.58. The firm has a market capitalization of $14.51 million, a P/E ratio of -2.72 and a beta of 2.17. The company has a quick ratio of 0.34, a current ratio of 0.41 and a debt-to-equity ratio of 0.19.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Reborn Coffee stock. Citadel Advisors LLC boosted its position in Reborn Coffee, Inc. (NASDAQ:REBN) by 33.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 22,177 shares of the company’s stock after acquiring an additional 5,554 shares during the quarter. Citadel Advisors LLC owned 0.60% of Reborn Coffee worth $37,000 at the end of the most recent reporting period. 1.76% of the stock is 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.