Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Update

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 71,959 shares, an increase of 97.3% from the August 31st total of 36,468 shares. Currently, 0.7% of the company’s shares are sold short. Based on an average trading volume of 33,031 shares, the days-to-cover ratio is presently 2.2 days.

Rave Restaurant Group Stock Performance

Shares of Rave Restaurant Group stock traded down $0.06 during trading hours on Wednesday, hitting $2.29. The company’s stock had a trading volume of 49,602 shares, compared to its average volume of 56,270. The stock has a market cap of $32.54 million, a price-to-earnings ratio of 10.91 and a beta of 0.43. Rave Restaurant Group has a twelve month low of $2.06 and a twelve month high of $3.60. The firm has a fifty day moving average of $2.99 and a 200-day moving average of $2.92.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings data on Thursday, September 24th. The restaurant operator reported $0.05 earnings per share (EPS) for the quarter. Rave Restaurant Group had a return on equity of 17.94% and a net margin of 22.29%.The firm had revenue of $3.43 million during the quarter.

Institutional Investors Weigh In On Rave Restaurant Group

A number of institutional investors and hedge funds have recently made changes to their positions in RAVE. NewEdge Advisors LLC raised its position in Rave Restaurant Group by 32.3% in the second quarter. NewEdge Advisors LLC now owns 33,067 shares of the restaurant operator’s stock valued at $108,000 after purchasing an additional 8,067 shares during the period. BlackRock Inc. purchased a new position in shares of Rave Restaurant Group during the second quarter worth $233,000. Renaissance Technologies LLC boosted its position in shares of Rave Restaurant Group by 6.8% during the first quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock worth $469,000 after buying an additional 11,205 shares during the period. James Investment Research Inc. grew its stake in shares of Rave Restaurant Group by 56.2% in the first quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock valued at $66,000 after buying an additional 9,000 shares in the last quarter. Finally, Saber Capital Managment LLC acquired a new stake in shares of Rave Restaurant Group in the fourth quarter valued at $514,000. 15.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “hold (c+)” rating on shares of Rave Restaurant Group in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Rave Restaurant Group has an average rating of “Hold”.

About Rave Restaurant Group

RAVE Restaurant Group, Inc is a restaurant company that develops, franchises and operates pizza concepts. Its principal brands are Pizza Inn, a traditional pizza restaurant known for dine-in, buffet, carryout and delivery offerings, and Pie Five Pizza Co, a fast-casual concept specializing in individually customized pizzas with a variety of crusts, sauces, cheeses and toppings.

Through its franchising activities, RAVE supports restaurants operated by franchisees and maintains a presence in markets in the United States and internationally.