Reborn Coffee, Inc. (NASDAQ:REBN) Short Interest Down 40.6% in March

Reborn Coffee, Inc. (NASDAQ:REBN) saw a large decline in short interest during the month of March. As of March 15th, there was short interest totalling 192,200 shares, a decline of 40.6% from the February 28th total of 323,300 shares. Currently, 10.8% of the shares of the stock are short sold. Based on an average daily volume of 2,600,000 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Reborn Coffee stock. Citadel Advisors LLC increased its position in shares of Reborn Coffee, Inc. (NASDAQ:REBN) by 33.4% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 22,177 shares of the company’s stock after acquiring an additional 5,554 shares during the period. Citadel Advisors LLC owned about 0.60% of Reborn Coffee worth $37,000 at the end of the most recent reporting period. Institutional investors and hedge funds own 1.76% of the company’s stock.

Reborn Coffee Price Performance

REBN stock traded down $0.26 during trading on Friday, reaching $3.75. 157,609 shares of the company were exchanged, compared to its average volume of 1,224,992. The company has a market capitalization of $13.77 million, a price-to-earnings ratio of -2.59 and a beta of 2.17. The company has a debt-to-equity ratio of 0.19, a current ratio of 0.41 and a quick ratio of 0.34. The company has a 50-day moving average of $4.01 and a two-hundred day moving average of $2.66. Reborn Coffee has a twelve month low of $1.03 and a twelve month high of $8.80.

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.