Rave Restaurant Group (NASDAQ:RAVE) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

Shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.97 and traded as high as $3.16. Rave Restaurant Group shares last traded at $3.10, with a volume of 15,977 shares changing hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company has an average rating of “Hold”.

Rave Restaurant Group Stock Performance

The stock has a market cap of $42.78 million, a price-to-earnings ratio of 14.33 and a beta of 0.41. The stock’s 50-day simple moving average is $3.17 and its two-hundred day simple moving average is $2.97.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter. Rave Restaurant Group had a return on equity of 19.22% and a net margin of 23.19%.The company had revenue of $3.22 million for the quarter.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Goldman Sachs Group Inc. bought a new stake in shares of Rave Restaurant Group in the 4th quarter worth about $35,000. Evergreen Capital Management LLC acquired a new stake in shares of Rave Restaurant Group during the 2nd quarter worth about $56,000. James Investment Research Inc. lifted its holdings in Rave Restaurant Group by 56.2% during the 1st quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock valued at $66,000 after purchasing an additional 9,000 shares during the last quarter. NewEdge Advisors LLC boosted its position in Rave Restaurant Group by 87.2% in the fourth quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock valued at $99,000 after buying an additional 13,946 shares in the last quarter. Finally, Susquehanna International Group LLP boosted its position in Rave Restaurant Group by 50.7% in the third quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock valued at $99,000 after buying an additional 10,063 shares in the last quarter. 15.12% of the stock is owned by institutional investors.

About Rave Restaurant Group

Rave Restaurant Group, Inc, through its subsidiaries, develops, operates and franchises a fast?casual pizza restaurant concept under the Rave Restaurant Group brand. The company’s locations feature made?to?order artisanal pizzas, calzones, salads, desserts and specialty beverages, with service options that include dine?in, takeout, delivery and catering. A proprietary digital platform supports each restaurant’s point?of?sale, online ordering and loyalty programs, aiming to enhance guest convenience and operational efficiency.

Founded in 2008 and headquartered in Miami, Florida, RAVE Restaurant Group has grown its footprint to include both company?owned and franchised units across select U.S.