Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Update

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

Hedge Funds Weigh In On Rave Restaurant Group

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC bought a new position in shares of Rave Restaurant Group in the fourth quarter valued at about $29,000. Dimensional Fund Advisors LP grew its stake in Rave Restaurant Group by 28.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock valued at $78,000 after buying an additional 6,682 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in Rave Restaurant Group by 36.9% in the 3rd 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 during the last quarter. 15.12% of the stock is owned by institutional investors.

Rave Restaurant Group Stock Performance

Rave Restaurant Group stock traded down $0.01 during midday trading on Friday, reaching $2.77. 11,380 shares of the company’s stock were exchanged, compared to its average volume of 29,527. The stock’s 50-day simple moving average is $2.68 and its 200 day simple moving average is $2.64. The firm has a market cap of $40.75 million, a price-to-earnings ratio of 15.39 and a beta of 0.43. 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 quarterly earnings data on Thursday, February 6th. The restaurant operator reported $0.04 earnings per share (EPS) for the quarter. Rave Restaurant Group had a return on equity of 20.68% and a net margin of 21.80%.

Wall Street Analyst Weigh In

Separately, StockNews.com began coverage on shares of Rave Restaurant Group in a research note on Friday. They issued a “buy” rating for the company.

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.