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

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

Reborn Coffee Stock Down 3.8 %

The company has a quick ratio of 0.34, a current ratio of 0.41 and a debt-to-equity ratio of 0.19. The company has a market capitalization of $5.54 million, a price-to-earnings ratio of -1.04 and a beta of 2.20. The business has a 50-day moving average price of $1.38 and a 200-day moving average price of $2.66.

Institutional Investors Weigh In On Reborn Coffee

An institutional investor recently bought a new position in Reborn Coffee stock. Renaissance Technologies LLC acquired a new position in shares of Reborn Coffee, Inc. (NASDAQ:REBN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 15,000 shares of the company’s stock, valued at approximately $105,000. Renaissance Technologies LLC owned approximately 0.45% of Reborn Coffee as of its most recent filing with the Securities and Exchange Commission. 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.