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

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

Reborn Coffee Trading Down 3.0 %

The company has a fifty day simple moving average of $3.42 and a two-hundred day simple moving average of $3.61. The company has a quick ratio of 0.37, a current ratio of 0.45 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $6.07 million, a P/E ratio of -1.46 and a beta of 2.91.

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

Institutional Trading of Reborn Coffee

An institutional investor recently bought a new position in Reborn Coffee stock. Renaissance Technologies LLC purchased a new stake in Reborn Coffee, Inc. (NASDAQ:REBN) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 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 reporting period. 1.76% of the stock is currently owned by institutional investors and hedge funds.

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.