Rave Restaurant Group (NASDAQ:RAVE) Stock Price Passes Above 200-Day Moving Average – Time to Sell?

Shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $3.01 and traded as high as $3.27. Rave Restaurant Group shares last traded at $3.17, with a volume of 27,758 shares.

Wall Street Analysts Forecast Growth

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

Rave Restaurant Group Stock Performance

The company has a market cap of $45.05 million, a PE ratio of 15.85 and a beta of 0.32. The firm’s 50 day moving average is $3.06 and its 200-day moving average is $3.01.

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

Hedge Funds Weigh In On Rave Restaurant Group

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. True North Advisors LLC purchased a new stake in Rave Restaurant Group in the 4th quarter valued at $352,000. Susquehanna International Group LLP raised its holdings in shares of Rave Restaurant Group by 50.7% during the 3rd quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock worth $99,000 after acquiring an additional 10,063 shares during the period. Finally, Evergreen Capital Management LLC acquired a new position in shares of Rave Restaurant Group during the 2nd quarter valued at about $56,000. Institutional investors and hedge funds own 15.12% of the company’s stock.

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.