RAVE Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Update

RAVE Restaurant Group, Inc. (NASDAQ:RAVE – Get Rating) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totalling 90,800 shares, an increase of 93.2% from the April 15th total of 47,000 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average trading volume of 206,300 shares, the short-interest ratio is currently 0.4 days.

Shares of RAVE opened at $0.86 on Friday. RAVE Restaurant Group has a 52-week low of $0.82 and a 52-week high of $1.80. The business’s fifty day moving average is $1.05 and its 200-day moving average is $1.10. The firm has a market cap of $15.48 million, a price-to-earnings ratio of 7.17 and a beta of 0.71.

Separately, StockNews.com initiated coverage on RAVE Restaurant Group in a research note on Friday. They set a “buy” rating on the stock.

In related news, CFO Clinton Dayne Fendley acquired 28,700 shares of the stock in a transaction on Tuesday, May 10th. The shares were purchased at an average price of $0.88 per share, for a total transaction of $25,256.00. Following the purchase, the chief financial officer now directly owns 84,416 shares in the company, valued at $74,286.08. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. In the last 90 days, insiders have acquired 75,700 shares of company stock worth $65,646. Corporate insiders own 41.00% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the company. Lake Street Financial LLC bought a new position in shares of RAVE Restaurant Group in the 4th quarter valued at $28,000. Two Sigma Securities LLC acquired a new stake in shares of RAVE Restaurant Group during the 3rd quarter valued at $72,000. Finally, Renaissance Technologies LLC boosted its holdings in shares of RAVE Restaurant Group by 49.6% during the 4th quarter. Renaissance Technologies LLC now owns 378,237 shares of the restaurant operator’s stock valued at $382,000 after acquiring an additional 125,459 shares in the last quarter. Institutional investors own 7.33% of the company’s stock.

About RAVE Restaurant Group (Get Rating)

Rave Restaurant Group, Inc, together with its subsidiaries, operates and franchises pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn trademark in the United States and internationally. It operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.

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