Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Up 193.9% in October

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a significant increase in short interest during the month of October. As of October 31st, there was short interest totalling 77,000 shares, an increase of 193.9% from the October 15th total of 26,200 shares. Based on an average daily trading volume, of 44,200 shares, the days-to-cover ratio is presently 1.7 days. Approximately 0.8% of the shares of the company are sold short.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on Rave Restaurant Group in a report on Tuesday. They issued a “buy” rating on the stock.

Rave Restaurant Group Stock Performance

Shares of RAVE traded up $0.06 during mid-day trading on Wednesday, hitting $2.72. 30,847 shares of the company were exchanged, compared to its average volume of 32,384. The company has a 50 day moving average of $2.37 and a 200-day moving average of $2.05. Rave Restaurant Group has a 1-year low of $1.64 and a 1-year high of $3.22. The stock has a market cap of $40.01 million, a price-to-earnings ratio of 15.00 and a beta of 0.51.

Rave Restaurant Group (NASDAQ:RAVE) last issued its earnings results on Thursday, September 26th. The restaurant operator reported $0.06 EPS for the quarter. The business had revenue of $3.36 million for the quarter. Rave Restaurant Group had a net margin of 21.49% and a return on equity of 21.37%.

Hedge Funds Weigh In On Rave Restaurant Group

A hedge fund recently bought a new stake in Rave Restaurant Group stock. Juncture Wealth Strategies LLC bought a new stake in Rave Restaurant Group, Inc. (NASDAQ:RAVE) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 24,132 shares of the restaurant operator’s stock, valued at approximately $49,000. Juncture Wealth Strategies LLC owned approximately 0.17% of Rave Restaurant Group at the end of the most recent quarter. Institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Company Profile

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.