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

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 40,210 shares, a growth of 167.5% from the May 31st total of 15,029 shares. Based on an average daily volume of 40,743 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.4% of the company’s shares are sold short.

Institutional Investors Weigh In On Rave Restaurant Group

Several institutional investors have recently made changes to their positions in RAVE. James Investment Research Inc. increased its stake in shares of 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 worth $66,000 after purchasing an additional 9,000 shares during the last quarter. Susquehanna International Group LLP increased its position in Rave Restaurant Group by 50.7% during the third quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock worth $99,000 after buying an additional 10,063 shares during the last quarter. Goldman Sachs Group Inc. acquired a new stake in shares of Rave Restaurant Group in the fourth quarter worth about $35,000. Renaissance Technologies LLC lifted its position in shares of Rave Restaurant Group by 6.8% in the first quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock worth $469,000 after buying an additional 11,205 shares during the last quarter. Finally, NewEdge Advisors LLC lifted its holdings in Rave Restaurant Group by 87.2% in the 4th quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock worth $99,000 after purchasing an additional 13,946 shares during the last quarter. 15.12% of the stock is currently owned by institutional investors and hedge funds.

Rave Restaurant Group Stock Performance

Shares of RAVE stock traded down $0.10 during trading on Tuesday, hitting $3.29. 7,140 shares of the company were exchanged, compared to its average volume of 56,987. The firm has a market capitalization of $46.82 million, a price-to-earnings ratio of 15.69 and a beta of 0.41. The business’s 50-day simple moving average is $2.93 and its 200 day simple moving average is $2.93. Rave Restaurant Group has a twelve month low of $2.25 and a twelve month high of $3.75.

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

Analyst Ratings Changes

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

Rave Restaurant Group Company Profile

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.