Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Declines By 51.7%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a large decrease in short interest in the month of May. As of May 15th, there was short interest totaling 14,199 shares, a decrease of 51.7% from the April 30th total of 29,389 shares. Based on an average trading volume of 105,633 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. acquired a new position in Rave Restaurant Group during the fourth quarter valued at $35,000. Evergreen Capital Management LLC acquired a new position in Rave Restaurant Group during the second quarter valued at $56,000. James Investment Research Inc. lifted its position in Rave Restaurant Group by 56.3% during the first quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock valued at $66,000 after purchasing an additional 9,000 shares during the period. NewEdge Advisors LLC lifted its position in Rave Restaurant Group by 87.2% during the fourth quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock valued at $99,000 after purchasing an additional 13,946 shares during the period. Finally, Susquehanna International Group LLP lifted its position 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 purchasing an additional 10,063 shares during the period. 15.12% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, the stock has an average rating of “Hold”.

Rave Restaurant Group Price Performance

NASDAQ RAVE opened at $2.94 on Wednesday. The stock’s fifty day moving average price is $2.64 and its 200 day moving average price is $2.90. Rave Restaurant Group has a 1 year low of $2.25 and a 1 year high of $3.75. The company has a market cap of $41.78 million, a price-to-earnings ratio of 14.00 and a beta of 0.41.

Rave Restaurant Group (NASDAQ:RAVE) last posted its earnings results on Thursday, May 7th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $3.22 million during the quarter. Rave Restaurant Group had a net margin of 23.19% and a return on equity of 19.22%.

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.