Reborn Coffee, Inc. (NASDAQ:REBN) Sees Large Drop in Short Interest

Reborn Coffee, Inc. (NASDAQ:REBN) was the recipient of a significant drop in short interest in the month of February. As of February 28th, there was short interest totalling 323,300 shares, a drop of 20.3% from the February 13th total of 405,700 shares. Currently, 16.8% of the company’s stock are sold short. Based on an average trading volume of 2,600,000 shares, the short-interest ratio is presently 0.1 days.

Reborn Coffee Stock Up 6.6 %

Reborn Coffee stock opened at $4.19 on Monday. The firm has a market capitalization of $15.39 million, a price-to-earnings ratio of -2.89 and a beta of 2.17. The firm’s fifty day moving average price is $3.44 and its two-hundred day moving average price is $2.58. Reborn Coffee has a 1-year low of $0.95 and a 1-year high of $8.80. The company has a current ratio of 0.41, a quick ratio of 0.34 and a debt-to-equity ratio of 0.19.

Hedge Funds Weigh In On Reborn Coffee

A hedge fund recently raised its stake in Reborn Coffee stock. Citadel Advisors LLC raised its stake in Reborn Coffee, Inc. (NASDAQ:REBN) by 33.4% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 22,177 shares of the company’s stock after purchasing an additional 5,554 shares during the quarter. Citadel Advisors LLC owned 0.60% of Reborn Coffee worth $37,000 as of its most recent filing with the Securities & Exchange Commission. 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.