Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Passes Above 200-Day Moving Average – Should You Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)’s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $4.09 and traded as high as $7.79. Red Robin Gourmet Burgers shares last traded at $7.77, with a volume of 535,042 shares.

Wall Street Analyst Weigh In

RRGB has been the subject of several recent research reports. UBS Group set a $8.00 price target on Red Robin Gourmet Burgers in a report on Wednesday, June 3rd. Benchmark reissued a “buy” rating on shares of Red Robin Gourmet Burgers in a research note on Wednesday, June 3rd. Wall Street Zen cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research note on Tuesday, April 21st. Two equities research analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $7.67.

Red Robin Gourmet Burgers Stock Performance

The firm’s 50 day moving average price is $4.67 and its two-hundred day moving average price is $4.09. The firm has a market cap of $143.75 million, a PE ratio of -5.18 and a beta of 2.47.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last released its quarterly earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 EPS for the quarter, missing the consensus estimate of $0.21 by ($0.08). The firm had revenue of $378.26 million for the quarter, compared to analysts’ expectations of $273.29 million. On average, analysts forecast that Red Robin Gourmet Burgers, Inc. will post -0.5 earnings per share for the current year.

Institutional Investors Weigh In On Red Robin Gourmet Burgers

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its holdings in shares of Red Robin Gourmet Burgers by 503.0% during the 2nd quarter. BNP Paribas Financial Markets now owns 5,379 shares of the restaurant operator’s stock worth $31,000 after purchasing an additional 4,487 shares during the period. Jain Global LLC acquired a new stake in shares of Red Robin Gourmet Burgers during the 4th quarter worth about $47,000. Osaic Holdings Inc. raised its holdings in Red Robin Gourmet Burgers by 152.6% in the 2nd quarter. Osaic Holdings Inc. now owns 10,055 shares of the restaurant operator’s stock valued at $58,000 after buying an additional 6,075 shares during the period. MB Generational Wealth LLC purchased a new stake in Red Robin Gourmet Burgers in the 1st quarter valued at about $59,000. Finally, Dynamic Technology Lab Private Ltd acquired a new position in Red Robin Gourmet Burgers in the first quarter valued at about $61,000. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc, trading on NASDAQ under the ticker RRGB, is a leading casual dining restaurant company headquartered in Greenwood Village, Colorado. The company specializes in offering a diverse menu centered on gourmet burgers, bottomless steak fries, salads, sandwiches and a selection of alcoholic beverages. Red Robin operates restaurants under its flagship Red Robin® brand, serving guests through both dine-in and off-premises channels, including delivery and carry-out. The company also leverages technology and loyalty programs to enhance the guest experience and drive repeat visits.

Founded in 1969 in Seattle, Washington, Red Robin began as a small tavern before evolving into a family-friendly restaurant concept focused on premium burgers.