Reborn Coffee (NASDAQ:REBN) Stock Price Down 11.3% – Here’s Why

Shares of Reborn Coffee, Inc. (NASDAQ:REBN) traded down 11.3% during mid-day trading on Wednesday . The company traded as low as $1.40 and last traded at $1.41. 65,851 shares changed hands during trading, an increase of 103% from the average session volume of 32,388 shares. The stock had previously closed at $1.59.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Reborn Coffee from a “sell (d-)” rating to a “sell (e+)” rating in a research report on Monday, June 1st. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Reborn Coffee Stock Down 1.4%

The company has a market cap of $11.50 million, a P/E ratio of -0.75 and a beta of 1.87. The stock’s 50-day moving average price is $2.22 and its 200-day moving average price is $1.91. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.14.

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

Hedge Funds Weigh In On Reborn Coffee

A hedge fund recently bought a new stake in Reborn Coffee stock. DRW Securities LLC purchased a new stake in Reborn Coffee, Inc. (NASDAQ:REBN) during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 64,986 shares of the company’s stock, valued at approximately $97,000. DRW Securities LLC owned approximately 1.09% of Reborn Coffee as of its most recent filing with the Securities and 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. The company also offers its products online. Reborn Coffee, Inc was founded in 2014 and is headquartered in Brea, California.