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

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

Reborn Coffee Stock Down 13.5 %

The firm’s 50-day moving average price is $3.26 and its 200 day moving average price is $2.57. The firm has a market cap of $14.55 million, a P/E ratio of -2.73 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.

Hedge Funds Weigh In On Reborn Coffee

An institutional investor recently raised its position in Reborn Coffee stock. Citadel Advisors LLC increased its stake in Reborn Coffee, Inc. (NASDAQ:REBN) by 33.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,177 shares of the company’s stock after purchasing an additional 5,554 shares during the quarter. Citadel Advisors LLC owned about 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.

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.