Rave Restaurant Group, Inc. (NASDAQ:RAVE) Stock Short Interest Report for September

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 31,247 shares, a drop of 56.6% from the September 15th total of 71,959 shares. Based on an average daily trading volume, of 149,523 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.3% of the shares of the company are sold short.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. NewEdge Advisors LLC grew its holdings in Rave Restaurant Group by 32.3% during the second quarter. NewEdge Advisors LLC now owns 33,067 shares of the restaurant operator’s stock worth $108,000 after acquiring an additional 8,067 shares during the period. BlackRock Inc. purchased a new stake in Rave Restaurant Group in the 2nd quarter worth about $233,000. Renaissance Technologies LLC grew its position in Rave Restaurant Group by 6.8% during the first quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock valued at $469,000 after purchasing an additional 11,205 shares in the last quarter. James Investment Research Inc. increased 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 worth $66,000 after acquiring an additional 9,000 shares during the last quarter. Finally, Saber Capital Managment LLC purchased a new stake in shares of Rave Restaurant Group during the 4th quarter worth about $514,000. Institutional investors and hedge funds own 15.12% of the company’s stock.

Rave Restaurant Group Trading Up 1.8%

RAVE traded up $0.04 on Thursday, reaching $2.21. The company had a trading volume of 55,975 shares, compared to its average volume of 55,570. The company has a market capitalization of $31.40 million, a P/E ratio of 10.52 and a beta of 0.49. The company has a fifty day moving average of $2.79 and a 200-day moving average of $2.89. Rave Restaurant Group has a one year low of $2.06 and a one year high of $3.60.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Rave Restaurant Group from a “hold (c+)” rating to a “hold (c)” rating in a research note on Tuesday, October 6th. One research analyst has rated the stock with a Hold rating. According to data from MarketBeat, the company has a consensus rating of “Hold”.

About Rave Restaurant Group

Rave Restaurant Group, Inc (NASDAQ:RAVE) is a restaurant company that develops, owns, franchises and licenses pizza restaurant concepts. Its principal brands are Pizza Inn and Pie Five Pizza, which serve customers through franchised locations and, in some cases, company-operated restaurants.

Pizza Inn is a traditional pizza brand offering pizzas, pasta, salads and other Italian-American menu items through dine-in, delivery and carryout formats. Pie Five Pizza is a fast-casual concept focused on made-to-order pizzas, allowing customers to customize their selections and have them prepared quickly.

The company traces its Pizza Inn business to the brand’s founding in Texas in 1958.