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

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a significant growth in short interest in the month of September. As of September 15th, there was short interest totaling 50,400 shares, a growth of 101.6% from the August 31st total of 25,000 shares. Approximately 0.6% of the shares of the stock are short sold. Based on an average daily trading volume, of 32,900 shares, the short-interest ratio is currently 1.5 days. Based on an average daily trading volume, of 32,900 shares, the short-interest ratio is currently 1.5 days. Approximately 0.6% of the shares of the stock are short sold.

Rave Restaurant Group Stock Down 2.8%

Shares of RAVE stock opened at $3.17 on Friday. The business has a 50-day moving average price of $3.19 and a two-hundred day moving average price of $2.80. Rave Restaurant Group has a 12-month low of $2.01 and a 12-month high of $3.75. The firm has a market cap of $45.05 million, a P/E ratio of 16.69 and a beta of 0.27.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings results on Thursday, September 25th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter. Rave Restaurant Group had a return on equity of 19.80% and a net margin of 22.44%.The firm had revenue of $3.15 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Rave Restaurant Group in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy”.

Institutional Investors Weigh In On Rave Restaurant Group

Several hedge funds have recently added to or reduced their stakes in the company. Watchman Group Inc. lifted its stake in Rave Restaurant Group by 5.6% during the first quarter. Watchman Group Inc. now owns 182,800 shares of the restaurant operator’s stock worth $503,000 after purchasing an additional 9,700 shares during the last quarter. Militia Capital Partners LP bought a new stake in Rave Restaurant Group during the first quarter worth about $30,000. Finally, Evergreen Capital Management LLC bought a new stake in Rave Restaurant Group during the second quarter worth about $56,000. Institutional investors own 15.12% of the company’s stock.

About Rave Restaurant Group

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.