Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Decreases By 18.5%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 28,082 shares, a decline of 18.5% from the February 12th total of 34,477 shares. Approximately 0.3% of the company’s shares are sold short. Based on an average daily trading volume, of 23,870 shares, the days-to-cover ratio is presently 1.2 days. Based on an average daily trading volume, of 23,870 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.3% of the company’s shares are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded Rave Restaurant Group from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, March 2nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. acquired a new position in Rave Restaurant Group during the 4th quarter worth $35,000. Evergreen Capital Management LLC acquired a new stake in Rave Restaurant Group in the 2nd quarter valued at about $56,000. NewEdge Advisors LLC boosted its stake in shares of Rave Restaurant Group by 87.2% in the 4th 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 during the period. Susquehanna International Group LLP boosted its stake in shares of Rave Restaurant Group by 50.7% in the 3rd 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 during the period. Finally, True North Advisors LLC acquired a new position in shares of Rave Restaurant Group during the fourth quarter worth about $352,000. 15.12% of the stock is currently owned by hedge funds and other institutional investors.

Rave Restaurant Group Stock Up 1.2%

Shares of RAVE opened at $2.63 on Tuesday. The company has a market cap of $37.38 million, a P/E ratio of 13.15 and a beta of 0.36. Rave Restaurant Group has a fifty-two week low of $2.01 and a fifty-two week high of $3.75. The firm’s 50 day moving average price is $3.10 and its 200 day moving average price is $3.06.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings results on Thursday, February 5th. The restaurant operator reported $0.04 EPS for the quarter. The company had revenue of $3.04 million during the quarter. Rave Restaurant Group had a net margin of 23.04% and a return on equity of 19.70%.

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.