Reborn Coffee, Inc. (NASDAQ:REBN) Short Interest Down 26.7% in October

Reborn Coffee, Inc. (NASDAQ:REBN) saw a significant decline in short interest during the month of October. As of October 15th, there was short interest totaling 60,900 shares, a decline of 26.7% from the September 30th total of 83,100 shares. Based on an average trading volume of 77,600 shares, the days-to-cover ratio is currently 0.8 days. Approximately 2.3% of the company’s stock are sold short. Approximately 2.3% of the company’s stock are sold short. Based on an average trading volume of 77,600 shares, the days-to-cover ratio is currently 0.8 days.

Reborn Coffee Trading Down 2.7%

NASDAQ REBN opened at $1.82 on Wednesday. The firm’s fifty day moving average price is $2.37 and its 200 day moving average price is $2.60. Reborn Coffee has a 12 month low of $1.03 and a 12 month high of $8.30. The company has a debt-to-equity ratio of 1.19, a current ratio of 0.14 and a quick ratio of 0.11. The company has a market capitalization of $10.86 million, a price-to-earnings ratio of -0.83 and a beta of 2.10.

Reborn Coffee (NASDAQ:REBN) last released its quarterly earnings data on Thursday, August 14th. The company reported ($1.02) earnings per share (EPS) for the quarter. The company had revenue of $1.84 million during the quarter. Reborn Coffee had a negative net margin of 152.76% and a negative return on equity of 995.56%.

Analyst Upgrades and Downgrades

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

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Reborn Coffee stock. XTX Topco Ltd acquired a new stake in Reborn Coffee, Inc. (NASDAQ:REBN) in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 10,950 shares of the company’s stock, valued at approximately $27,000. XTX Topco Ltd owned about 0.21% of Reborn Coffee at the end of the most recent quarter. 1.76% of the stock is owned by institutional investors.

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.