Rave Restaurant Group (NASDAQ:RAVE) Announces Earnings Results

Rave Restaurant Group (NASDAQ:RAVE) released its earnings results on Monday. The restaurant operator reported $0.05 EPS for the quarter, FiscalAI reports. The company had revenue of $3.32 million during the quarter. Rave Restaurant Group had a return on equity of 17.94% and a net margin of 22.29%.

Rave Restaurant Group Price Performance

Rave Restaurant Group stock traded up $0.06 during mid-day trading on Monday, reaching $2.18. The company had a trading volume of 11,837 shares, compared to its average volume of 53,992. The stock’s 50-day simple moving average is $2.49 and its 200-day simple moving average is $2.85. Rave Restaurant Group has a 1 year low of $2.06 and a 1 year high of $3.60. The company has a market capitalization of $31.07 million, a P/E ratio of 10.38 and a beta of 0.56.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised shares of Rave Restaurant Group from a “hold (c)” rating to a “hold (c+)” rating in a research note on Wednesday, October 21st. One investment analyst has rated the stock with a Hold rating. Based on data from MarketBeat, the company currently has a consensus rating of “Hold”.

Institutional Investors Weigh In On Rave Restaurant Group

Several institutional investors have recently modified their holdings of the company. NewEdge Advisors LLC grew its holdings in shares of Rave Restaurant Group by 32.3% in the 2nd quarter. NewEdge Advisors LLC now owns 33,067 shares of the restaurant operator’s stock worth $108,000 after acquiring an additional 8,067 shares during the period. BlackRock Inc. purchased a new position in Rave Restaurant Group in the 2nd quarter valued at approximately $233,000. Finally, Renaissance Technologies LLC increased its stake in Rave Restaurant Group by 6.8% in the 1st quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock valued at $469,000 after purchasing an additional 11,205 shares in the last quarter. Hedge funds and other institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc is a restaurant company that develops, operates, and franchises pizza concepts. Its primary brands are Pizza Inn and Pie Five Pizza Co, which serve customers through franchised and company-operated locations.

Pizza Inn is the company’s traditional pizza brand, offering pizza, pasta, salads, desserts, and other menu items through buffet, carryout, delivery, and dine-in formats. Pie Five Pizza Co is a fast-casual concept centered on individually crafted pizzas, allowing customers to select crusts, sauces, cheeses, and toppings before the pizza is baked.

Pizza Inn was founded in 1958, and the company has since expanded its brand portfolio and franchising activities.