Rave Restaurant Group (NASDAQ:RAVE) Stock Passes Above 200 Day Moving Average – Here’s Why

Rave Restaurant Group, Inc. (NASDAQ:RAVE) shares crossed above its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $2.97 and traded as high as $3.45. Rave Restaurant Group shares last traded at $3.30, with a volume of 9,408 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings downgraded Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, May 4th. One analyst has rated the stock with a Hold rating, According to MarketBeat, Rave Restaurant Group currently has a consensus rating of “Hold”.

Rave Restaurant Group Price Performance

The business has a 50-day simple moving average of $3.10 and a two-hundred day simple moving average of $2.97. The stock has a market cap of $46.89 million, a price-to-earnings ratio of 15.72 and a beta of 0.41.

Rave Restaurant Group (NASDAQ:RAVE) last released its quarterly earnings data on Thursday, May 7th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter. Rave Restaurant Group had a return on equity of 19.22% and a net margin of 23.19%.The firm had revenue of $3.22 million for the quarter.

Institutional Investors Weigh In On Rave Restaurant Group

Several hedge funds have recently added to or reduced their stakes in RAVE. Goldman Sachs Group Inc. acquired a new position in shares of Rave Restaurant Group in the fourth quarter valued at $35,000. Evergreen Capital Management LLC acquired a new stake in shares of Rave Restaurant Group during the 2nd quarter worth about $56,000. James Investment Research Inc. boosted its holdings in shares of Rave Restaurant Group by 56.2% during the 1st quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock worth $66,000 after buying an additional 9,000 shares during the period. NewEdge Advisors LLC boosted its holdings 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 worth $99,000 after buying an additional 13,946 shares during the period. Finally, Susquehanna International Group LLP grew its stake 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 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.

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.