Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Decreases By 15.9%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 23,627 shares, a decrease of 15.9% from the February 26th total of 28,082 shares. Currently, 0.2% of the company’s stock are short sold. Based on an average trading volume of 29,398 shares, the short-interest ratio is currently 0.8 days.

Institutional Trading of Rave Restaurant Group

Several hedge funds have recently added to or reduced their stakes in the business. Evergreen Capital Management LLC acquired a new stake in Rave Restaurant Group in the 2nd quarter valued at approximately $56,000. Susquehanna International Group LLP increased its position in Rave Restaurant Group by 50.7% in the 3rd quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock worth $99,000 after buying an additional 10,063 shares during the period. True North Advisors LLC acquired a new position in shares of Rave Restaurant Group during the fourth quarter worth approximately $352,000. Goldman Sachs Group Inc. bought a new stake in shares of Rave Restaurant Group in the fourth quarter valued at approximately $35,000. Finally, 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 valued at $547,000 after acquiring an additional 16,598 shares during the period. Institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Stock Performance

NASDAQ:RAVE opened at $2.54 on Monday. The firm has a market capitalization of $36.09 million, a PE ratio of 12.70 and a beta of 0.36. Rave Restaurant Group has a 1 year low of $2.01 and a 1 year high of $3.75. The firm’s fifty day simple moving average is $2.98 and its 200 day simple moving average is $3.01.

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

Analysts Set New Price Targets

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

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.