Reborn Coffee (NASDAQ:REBN) Trading 7.7% Higher – Here’s Why

Reborn Coffee, Inc. (NASDAQ:REBN) shot up 7.7% on Monday . The company traded as high as $2.05 and last traded at $1.97. 209,340 shares traded hands during mid-day trading, an increase of 52% from the average session volume of 137,695 shares. The stock had previously closed at $1.83.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Reborn Coffee in a report on Friday, October 31st. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock presently has an average rating of “Sell”.

Reborn Coffee Stock Performance

The firm’s fifty day moving average is $1.67 and its 200 day moving average is $2.18. The firm has a market cap of $11.78 million, a P/E ratio of -0.77 and a beta of 2.13.

Reborn Coffee (NASDAQ:REBN) last released its quarterly earnings results on Wednesday, November 19th. The company reported ($0.68) EPS for the quarter. Reborn Coffee had a negative net margin of 191.48% and a negative return on equity of 995.56%. The business had revenue of $2.71 million during the quarter.

Institutional Trading of Reborn Coffee

An institutional investor recently bought a new position in Reborn Coffee stock. XTX Topco Ltd bought a new position in Reborn Coffee, Inc. (NASDAQ:REBN) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 10,950 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned approximately 0.21% of Reborn Coffee at the end of the most recent reporting period. Institutional investors and hedge funds 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.