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

Reborn Coffee, Inc. (NASDAQ:REBN) saw a significant drop in short interest in March. As of March 31st, there was short interest totaling 71,033 shares, a drop of 14.5% from the March 15th total of 83,053 shares. Currently, 1.6% of the shares of the stock are sold short. Based on an average daily trading volume, of 41,767 shares, the short-interest ratio is currently 1.7 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reaffirmed a “sell (e+)” rating on shares of Reborn Coffee in a report on Wednesday, January 28th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has a consensus rating of “Sell”.

Hedge Funds Weigh In On Reborn Coffee

An institutional investor recently bought a new position in Reborn Coffee stock. DRW Securities LLC acquired a new stake in Reborn Coffee, Inc. (NASDAQ:REBN) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 64,986 shares of the company’s stock, valued at approximately $97,000. DRW Securities LLC owned about 1.09% of Reborn Coffee as of its most recent filing with the Securities and Exchange Commission (SEC). 1.76% of the stock is owned by institutional investors.

Reborn Coffee Price Performance

REBN opened at $2.69 on Friday. Reborn Coffee has a one year low of $1.36 and a one year high of $3.45. The company’s 50 day simple moving average is $2.01 and its 200-day simple moving average is $1.89. The stock has a market capitalization of $16.08 million, a P/E ratio of -1.05 and a beta of 1.92.

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.