Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Down 62.5% in March

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a large decrease in short interest in March. As of March 15th, there was short interest totalling 11,400 shares, a decrease of 62.5% from the February 29th total of 30,400 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average trading volume of 35,500 shares, the short-interest ratio is presently 0.3 days.

Rave Restaurant Group Stock Performance

Shares of Rave Restaurant Group stock traded down $0.04 during trading hours on Thursday, hitting $2.19. The company’s stock had a trading volume of 33,771 shares, compared to its average volume of 37,688. The firm has a fifty day moving average of $1.91 and a 200-day moving average of $2.10. The stock has a market cap of $31.95 million, a price-to-earnings ratio of 17.16 and a beta of 0.32. Rave Restaurant Group has a twelve month low of $1.31 and a twelve month high of $2.64.

Rave Restaurant Group (NASDAQ:RAVE) last announced its earnings results on Thursday, February 1st. The restaurant operator reported $0.04 earnings per share for the quarter. The company had revenue of $2.79 million during the quarter. Rave Restaurant Group had a net margin of 15.94% and a return on equity of 18.06%.

Insider Activity at Rave Restaurant Group

In other Rave Restaurant Group news, insider Value Llp Ima bought 46,241 shares of the firm’s stock in a transaction on Monday, January 22nd. The shares were acquired at an average cost of $1.98 per share, with a total value of $91,557.18. Following the purchase, the insider now directly owns 969,520 shares of the company’s stock, valued at approximately $1,919,649.60. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. In the last quarter, insiders acquired 103,762 shares of company stock valued at $203,066. Corporate insiders own 27.80% of the company’s stock.

Institutional Trading of Rave Restaurant Group

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in shares of Rave Restaurant Group by 8.6% in the fourth quarter. Renaissance Technologies LLC now owns 264,864 shares of the restaurant operator’s stock valued at $418,000 after buying an additional 21,064 shares in the last quarter. Corsair Capital Management L.P. increased its stake in Rave Restaurant Group by 5.0% during the fourth quarter. Corsair Capital Management L.P. now owns 172,573 shares of the restaurant operator’s stock worth $385,000 after purchasing an additional 8,258 shares during the period. Geode Capital Management LLC increased its stake in Rave Restaurant Group by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 137,411 shares of the restaurant operator’s stock worth $217,000 after purchasing an additional 6,896 shares during the period. Virtu Financial LLC boosted its stake in shares of Rave Restaurant Group by 166.2% in the first quarter. Virtu Financial LLC now owns 67,144 shares of the restaurant operator’s stock valued at $72,000 after purchasing an additional 41,918 shares during the period. Finally, Charles Schwab Investment Management Inc. purchased a new position in shares of Rave Restaurant Group in the third quarter valued at approximately $107,000. Institutional investors and hedge funds own 15.12% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. StockNews.com started coverage on shares of Rave Restaurant Group in a research report on Monday. They set a “buy” rating on the stock. TheStreet downgraded shares of Rave Restaurant Group from a “b” rating to a “c+” rating in a report on Wednesday, December 20th.

About Rave Restaurant Group

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.