Reborn Coffee (NASDAQ:REBN) Trading Down 1.2% – Here’s Why

Shares of Reborn Coffee, Inc. (NASDAQ:REBN) fell 1.2% during trading on Thursday . The stock traded as low as $1.57 and last traded at $1.59. Approximately 43,522 shares were traded during mid-day trading, an increase of 8% from the average session volume of 40,181 shares. The stock had previously closed at $1.61.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised Reborn Coffee from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, June 15th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock presently has an average rating of “Sell”.

Reborn Coffee Price Performance

The business has a 50-day simple moving average of $1.92 and a 200-day simple moving average of $1.89. The company has a debt-to-equity ratio of 0.14, a quick ratio of 0.87 and a current ratio of 0.89. The company has a market cap of $13.05 million, a price-to-earnings ratio of -0.85 and a beta of 1.94.

Reborn Coffee (NASDAQ:REBN) last announced its quarterly earnings data on Friday, May 22nd. The company reported ($0.22) EPS for the quarter. Reborn Coffee had a negative return on equity of 1,131.84% and a negative net margin of 75.59%.The company had revenue of $5.21 million for the quarter.

Institutional Investors Weigh In On Reborn Coffee

A hedge fund recently bought a new position in Reborn Coffee stock. DRW Securities LLC acquired a new position in shares of Reborn Coffee, Inc. (NASDAQ:REBN) in the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 64,986 shares of the company’s stock, valued at approximately $97,000. DRW Securities LLC owned about 1.09% of Reborn Coffee at the end of the most recent quarter. 1.76% of the stock is currently owned by hedge funds and other institutional investors.

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. The company also offers its products online. Reborn Coffee, Inc was founded in 2014 and is headquartered in Brea, California.