Rave Restaurant Group, Inc. (NASDAQ:RAVE) Sees Large Decrease in Short Interest

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 18,248 shares, a decrease of 22.8% from the March 15th total of 23,627 shares. Based on an average trading volume of 43,678 shares, the short-interest ratio is currently 0.4 days. Currently, 0.2% of the shares of the company are short sold.

Wall Street Analysts Forecast Growth

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

Rave Restaurant Group Stock Down 2.5%

Shares of RAVE stock opened at $2.37 on Wednesday. Rave Restaurant Group has a 12-month low of $2.11 and a 12-month high of $3.75. The company has a market capitalization of $33.68 million, a PE ratio of 11.85 and a beta of 0.37. The firm has a 50 day moving average price of $2.80 and a two-hundred day moving average price of $2.92.

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

Institutional Inflows and Outflows

Large investors 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 valued at $547,000 after acquiring an additional 16,598 shares during the period. NewEdge Advisors LLC grew its stake in shares of Rave Restaurant Group by 87.2% in the fourth quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock valued at $99,000 after acquiring an additional 13,946 shares in the last quarter. Susquehanna International Group LLP increased its position in 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 worth $99,000 after acquiring an additional 10,063 shares during the period. Evergreen Capital Management LLC bought a new position in Rave Restaurant Group during the second quarter worth about $56,000. Finally, Goldman Sachs Group Inc. bought a new position in Rave Restaurant Group during the fourth quarter worth about $35,000. Institutional investors 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.