Rave Restaurant Group (NASDAQ:RAVE) Shares Pass Above 200 Day Moving Average – Here’s Why

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.95 and traded as high as $3.42. Rave Restaurant Group shares last traded at $3.23, with a volume of 42,811 shares changing hands.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, October 8th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Rave Restaurant Group currently has an average rating of “Hold”.

Rave Restaurant Group Trading Down 3.0%

The firm has a market capitalization of $45.90 million, a price-to-earnings ratio of 16.15 and a beta of 0.33. The stock has a fifty day moving average price of $2.88 and a 200-day moving average price of $2.95.

Rave Restaurant Group (NASDAQ:RAVE) last announced its quarterly earnings results on Thursday, November 6th. The restaurant operator reported $0.05 earnings per share for the quarter. Rave Restaurant Group had a return on equity of 20.11% and a net margin of 23.12%.The firm had revenue of $3.21 million for the quarter.

Hedge Funds Weigh In On Rave Restaurant Group

Several institutional investors have recently added to or reduced their stakes in the company. Militia Capital Partners LP acquired a new position in Rave Restaurant Group in the first quarter valued at about $30,000. Susquehanna International Group LLP raised its stake in shares of 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 acquiring an additional 10,063 shares during the last quarter. Finally, Evergreen Capital Management LLC bought a new position in shares of Rave Restaurant Group in the second quarter valued at approximately $56,000. 15.12% of the stock is owned by institutional investors.

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.