Rave Restaurant Group, Inc. (NASDAQ:RAVE) Sees Significant Decrease in Short Interest

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a significant drop in short interest in March. As of March 15th, there was short interest totalling 39,300 shares, a drop of 45.0% from the February 28th total of 71,500 shares. Currently, 0.5% of the company’s stock are sold short. Based on an average daily volume of 30,200 shares, the short-interest ratio is currently 1.3 days.

Rave Restaurant Group Trading Up 0.9 %

Shares of RAVE stock traded up $0.03 during trading on Friday, hitting $2.81. The company’s stock had a trading volume of 3,623 shares, compared to its average volume of 29,392. The business has a fifty day moving average of $2.68 and a 200-day moving average of $2.63. The company has a market cap of $41.27 million, a PE ratio of 15.58 and a beta of 0.43. Rave Restaurant Group has a 52 week low of $1.70 and a 52 week high of $3.36.

Rave Restaurant Group (NASDAQ:RAVE) last announced its earnings results on Thursday, February 6th. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter. Rave Restaurant Group had a return on equity of 20.68% and a net margin of 21.80%.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC purchased a new position in Rave Restaurant Group in the fourth quarter valued at approximately $29,000. Dimensional Fund Advisors LP raised its stake in shares of Rave Restaurant Group by 28.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock valued at $78,000 after buying an additional 6,682 shares during the period. Finally, Geode Capital Management LLC lifted its position in shares of Rave Restaurant Group by 36.9% during the 3rd quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock valued at $264,000 after buying an additional 34,977 shares during the last quarter. 15.12% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Separately, StockNews.com started coverage on shares of Rave Restaurant Group in a research report on Friday. They issued a “buy” rating for the company.

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.