Rave Restaurant Group (NASDAQ:RAVE) Announces Quarterly Earnings Results

Rave Restaurant Group (NASDAQ:RAVE) released its quarterly earnings results on Monday. The restaurant operator reported $0.05 earnings per share for the quarter, FiscalAI reports. The firm had revenue of $3.32 million during the quarter. Rave Restaurant Group had a return on equity of 17.63% and a net margin of 22.26%.

Rave Restaurant Group Stock Performance

NASDAQ RAVE traded down $0.04 during trading hours on Wednesday, hitting $2.06. 997 shares of the company traded hands, compared to its average volume of 53,837. The business’s 50-day moving average is $2.45 and its 200-day moving average is $2.84. The stock has a market capitalization of $29.43 million, a price-to-earnings ratio of 9.83 and a beta of 0.56. Rave Restaurant Group has a twelve month low of $2.06 and a twelve month high of $3.60.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of Rave Restaurant Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, October 21st. One research analyst has rated the stock with a Hold rating. According to MarketBeat.com, the company currently has an average rating of “Hold”.

Institutional Investors Weigh In On Rave Restaurant Group

A number of institutional investors and hedge funds have recently made changes to their positions in RAVE. Saber Capital Management LLC increased its holdings in Rave Restaurant Group by 1.0% during the third quarter. Saber Capital Management LLC now owns 708,499 shares of the restaurant operator’s stock worth $1,630,000 after buying an additional 7,016 shares during the last quarter. NewEdge Advisors LLC lifted its stake in Rave Restaurant Group by 32.3% in the second quarter. NewEdge Advisors LLC now owns 33,067 shares of the restaurant operator’s stock valued at $108,000 after acquiring an additional 8,067 shares during the last quarter. BlackRock Inc. acquired a new stake in Rave Restaurant Group in the second quarter valued at $233,000. Finally, Renaissance Technologies LLC grew its position in shares of Rave Restaurant Group by 6.8% in the 1st quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock valued at $469,000 after acquiring an additional 11,205 shares during the period. Institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc. is a restaurant company that develops, operates, and franchises pizza concepts. Its primary brands are Pizza Inn and Pie Five Pizza Co., which serve customers through franchised and company-operated locations. Pizza Inn is the company’s traditional pizza brand, offering pizza, pasta, salads, desserts, and other menu items through buffet, carryout, delivery, and dine-in formats. Pie Five Pizza Co. is a fast-casual concept centered on individually crafted pizzas, allowing customers to select crusts, sauces, cheeses, and toppings before the pizza is baked.