Rave Restaurant Group (NASDAQ:RAVE) Stock Price Passes Above 200-Day Moving Average – Here’s What Happened

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.98 and traded as high as $3.20. Rave Restaurant Group shares last traded at $3.14, with a volume of 9,034 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, October 8th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, the stock has a consensus rating of “Hold”.

Rave Restaurant Group Trading Up 0.3%

The stock’s 50-day moving average price is $2.95 and its 200-day moving average price is $2.98. The company has a market capitalization of $44.63 million, a P/E ratio of 15.70 and a beta of 0.32.

Rave Restaurant Group (NASDAQ:RAVE) last released its quarterly earnings data on Thursday, November 6th. The restaurant operator reported $0.05 earnings per share for the quarter. Rave Restaurant Group had a net margin of 23.12% and a return on equity of 20.11%. The firm had revenue of $3.21 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Evergreen Capital Management LLC acquired a new stake in shares of Rave Restaurant Group in the 2nd quarter worth about $56,000. Militia Capital Partners LP acquired a new stake in shares of Rave Restaurant Group in the first quarter valued at approximately $30,000. Finally, Susquehanna International Group LLP raised its holdings in shares of 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 buying an additional 10,063 shares during the last quarter. Institutional investors and hedge funds own 15.12% of the company’s stock.

About Rave Restaurant Group

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.