Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Rises By 193.9%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant increase in short interest in the month of October. As of October 31st, there was short interest totalling 77,000 shares, an increase of 193.9% from the October 15th total of 26,200 shares. Based on an average daily volume of 44,200 shares, the short-interest ratio is presently 1.7 days. Currently, 0.8% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Rave Restaurant Group in a report on Tuesday. They set a “buy” rating for the company.

Institutional Trading of Rave Restaurant Group

A hedge fund recently bought a new stake in Rave Restaurant Group stock. Juncture Wealth Strategies LLC purchased a new stake in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 24,132 shares of the restaurant operator’s stock, valued at approximately $49,000. Juncture Wealth Strategies LLC owned approximately 0.17% of Rave Restaurant Group at the end of the most recent quarter. 15.12% of the stock is currently owned by hedge funds and other institutional investors.

Rave Restaurant Group Stock Down 6.0 %

NASDAQ RAVE traded down $0.17 during trading hours on Tuesday, hitting $2.66. 83,507 shares of the company were exchanged, compared to its average volume of 32,391. Rave Restaurant Group has a 52-week low of $1.64 and a 52-week high of $3.22. The firm has a market cap of $39.13 million, a price-to-earnings ratio of 14.72 and a beta of 0.51. The company has a 50 day moving average of $2.36 and a two-hundred day moving average of $2.04.

Rave Restaurant Group (NASDAQ:RAVE) last posted its quarterly earnings results on Thursday, September 26th. The restaurant operator reported $0.06 earnings per share for the quarter. The firm had revenue of $3.36 million for the quarter. Rave Restaurant Group had a return on equity of 22.02% and a net margin of 21.49%.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.