Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Down 15.9% in March

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a large decrease in short interest in March. As of March 13th, there was short interest totaling 23,627 shares, a decrease of 15.9% from the February 26th total of 28,082 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average trading volume of 29,398 shares, the days-to-cover ratio is presently 0.8 days.

Institutional Investors Weigh In On Rave Restaurant Group

Institutional investors have recently added to or reduced their stakes in the stock. True North Advisors LLC purchased a new position in shares of Rave Restaurant Group in the fourth quarter worth $352,000. Goldman Sachs Group Inc. bought a new position in shares of Rave Restaurant Group during the fourth quarter worth $35,000. Susquehanna International Group LLP grew its stake in Rave Restaurant Group by 50.7% during the third quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock valued at $99,000 after acquiring an additional 10,063 shares in the last quarter. Renaissance Technologies LLC grew its stake in Rave Restaurant Group by 11.1% during the fourth quarter. Renaissance Technologies LLC now owns 165,856 shares of the restaurant operator’s stock valued at $547,000 after acquiring an additional 16,598 shares in the last quarter. Finally, NewEdge Advisors LLC increased its holdings in Rave Restaurant Group by 87.2% in the 4th quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock valued at $99,000 after acquiring an additional 13,946 shares during the last quarter. 15.12% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Rave Restaurant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, According to MarketBeat, the stock has an average rating of “Buy”.

Rave Restaurant Group Stock Performance

Shares of Rave Restaurant Group stock traded up $0.16 during trading hours on Tuesday, hitting $2.70. The company’s stock had a trading volume of 15,937 shares, compared to its average volume of 28,924. The company has a market cap of $38.37 million, a PE ratio of 13.50 and a beta of 0.36. The business has a 50 day moving average price of $2.97 and a two-hundred day moving average price of $3.01. Rave Restaurant Group has a 12-month low of $2.01 and a 12-month high of $3.75.

Rave Restaurant Group (NASDAQ:RAVE) last released its earnings results on Thursday, February 5th. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter. The firm had revenue of $3.04 million during the quarter. Rave Restaurant Group had a return on equity of 19.70% and a net margin of 23.04%.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc, through its subsidiaries, develops, operates and franchises a fast‐casual pizza restaurant concept under the Rave Restaurant Group brand. The company’s locations feature made‐to‐order artisanal pizzas, calzones, salads, desserts and specialty beverages, with service options that include dine‐in, takeout, delivery and catering. A proprietary digital platform supports each restaurant’s point‐of‐sale, online ordering and loyalty programs, aiming to enhance guest convenience and operational efficiency.

Founded in 2008 and headquartered in Miami, Florida, RAVE Restaurant Group has grown its footprint to include both company‐owned and franchised units across select U.S.