Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Drops By 18.5%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a large decrease in short interest in the month of February. As of February 27th, there was short interest totaling 28,082 shares, a decrease of 18.5% from the February 12th total of 34,477 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average trading volume of 23,870 shares, the short-interest ratio is presently 1.2 days. Based on an average trading volume of 23,870 shares, the short-interest ratio is presently 1.2 days. Approximately 0.3% of the shares of the company are sold short.

Institutional Investors Weigh In On Rave Restaurant Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Renaissance Technologies LLC boosted its position in shares of Rave Restaurant Group by 11.1% in the fourth quarter. Renaissance Technologies LLC now owns 165,856 shares of the restaurant operator’s stock worth $547,000 after purchasing an additional 16,598 shares during the period. Saber Capital Managment LLC bought a new stake in shares of Rave Restaurant Group during the 4th quarter valued at $514,000. True North Advisors LLC bought a new stake in shares of Rave Restaurant Group during the 4th quarter valued at $352,000. NewEdge Advisors LLC lifted its stake in shares of Rave Restaurant Group by 87.2% during the 4th quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock valued at $99,000 after buying an additional 13,946 shares in the last quarter. Finally, Susquehanna International Group LLP lifted its stake in shares of Rave Restaurant Group by 50.7% during the 3rd 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 in the last quarter. Institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Stock Performance

NASDAQ:RAVE opened at $2.60 on Friday. The stock has a 50-day simple moving average of $3.11 and a two-hundred day simple moving average of $3.07. Rave Restaurant Group has a 52-week low of $2.01 and a 52-week high of $3.75. The firm has a market capitalization of $36.95 million, a PE ratio of 13.00 and a beta of 0.36.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings results on Thursday, February 5th. The restaurant operator reported $0.04 EPS for the quarter. Rave Restaurant Group had a return on equity of 19.70% and a net margin of 23.04%.The business had revenue of $3.04 million during the quarter.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings upgraded shares of Rave Restaurant Group from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Monday, March 2nd. One equities research analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy”.

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.