Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Decreases By 15.9%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant decline in short interest in the month of March. As of March 13th, there was short interest totaling 23,627 shares, a decline of 15.9% from the February 26th total of 28,082 shares. Based on an average trading volume of 29,398 shares, the days-to-cover ratio is presently 0.8 days. Approximately 0.2% of the shares of the company are short sold.

Rave Restaurant Group Stock Performance

Shares of RAVE stock opened at $2.54 on Monday. Rave Restaurant Group has a 52-week low of $2.01 and a 52-week high of $3.75. The stock has a market cap of $36.09 million, a price-to-earnings ratio of 12.70 and a beta of 0.36. The firm has a fifty day moving average of $2.98 and a 200-day moving average of $3.01.

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

Institutional Investors Weigh In On Rave Restaurant Group

Institutional investors have recently added to or reduced their stakes in the stock. Renaissance Technologies LLC grew its stake in shares of Rave Restaurant Group by 11.1% in the 4th quarter. Renaissance Technologies LLC now owns 165,856 shares of the restaurant operator’s stock valued at $547,000 after purchasing an additional 16,598 shares during the period. NewEdge Advisors LLC raised its holdings 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 worth $99,000 after buying an additional 13,946 shares in the last quarter. Goldman Sachs Group Inc. bought a new position in shares of Rave Restaurant Group during the 4th quarter worth approximately $35,000. Susquehanna International Group LLP lifted its position 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 buying an additional 10,063 shares during the period. Finally, Evergreen Capital Management LLC acquired a new stake in Rave Restaurant Group in the 2nd quarter valued at $56,000. 15.12% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

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

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.