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

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a significant decrease in short interest in the month of March. As of March 15th, there was short interest totalling 39,300 shares, a decrease of 45.0% from the February 28th total of 71,500 shares. Based on an average daily trading volume, of 30,200 shares, the short-interest ratio is currently 1.3 days. Currently, 0.5% of the company’s shares are sold short.

Wall Street Analysts Forecast Growth

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

Institutional Investors Weigh In On Rave Restaurant Group

A number of hedge funds have recently added to or reduced their stakes in the company. Two Sigma Securities LLC acquired a new position in shares of Rave Restaurant Group during the fourth quarter worth approximately $29,000. Dimensional Fund Advisors LP raised its holdings in Rave Restaurant Group by 28.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock worth $78,000 after buying an additional 6,682 shares during the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of Rave Restaurant Group by 36.9% in the third quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock valued at $264,000 after buying an additional 34,977 shares in the last quarter. Institutional investors and hedge funds own 15.12% of the company’s stock.

Rave Restaurant Group Stock Performance

Shares of RAVE stock traded up $0.03 during mid-day trading on Friday, hitting $2.81. The company’s stock had a trading volume of 3,623 shares, compared to its average volume of 29,392. The company has a market cap of $41.27 million, a PE ratio of 15.58 and a beta of 0.43. The company’s fifty day simple moving average is $2.68 and its 200-day simple moving average is $2.63. Rave Restaurant Group has a 52 week low of $1.70 and a 52 week high of $3.36.

Rave Restaurant Group (NASDAQ:RAVE) last released its earnings results on Thursday, February 6th. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter. Rave Restaurant Group had a net margin of 21.80% and a return on equity of 20.68%.

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.