StockNews.com Begins Coverage on Rave Restaurant Group (NASDAQ:RAVE)

StockNews.com initiated coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a research note released on Saturday. The brokerage issued a buy rating on the restaurant operator’s stock.

Rave Restaurant Group Stock Down 2.3 %

RAVE opened at $2.95 on Friday. The firm’s fifty day simple moving average is $2.87 and its two-hundred day simple moving average is $2.22. Rave Restaurant Group has a 52-week low of $1.64 and a 52-week high of $3.36. The company has a market cap of $43.40 million, a price-to-earnings ratio of 16.39 and a beta of 0.56.

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

Institutional Investors Weigh In On Rave Restaurant Group

A hedge fund recently raised its stake in Rave Restaurant Group stock. Geode Capital Management LLC increased its holdings in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 36.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 129,864 shares of the restaurant operator’s stock after acquiring an additional 34,977 shares during the quarter. Geode Capital Management LLC owned about 0.88% of Rave Restaurant Group worth $264,000 at the end of the most recent reporting period. 15.12% of the stock is currently owned by institutional investors and hedge funds.

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.