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

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $4.22 and traded as high as $7.09. Red Robin Gourmet Burgers shares last traded at $6.60, with a volume of 244,837 shares trading hands.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on RRGB shares. Weiss Ratings restated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a research report on Tuesday, April 21st. UBS Group set a $8.00 target price on Red Robin Gourmet Burgers in a research 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. Finally, Wall Street Zen cut Red Robin Gourmet Burgers from a “hold” rating to a “sell” rating in a report on Saturday, May 16th. Two analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, Red Robin Gourmet Burgers presently has an average rating of “Hold” and an average target price of $7.67.

Red Robin Gourmet Burgers Price Performance

The firm has a market cap of $122.10 million, a P/E ratio of -4.40 and a beta of 2.38. The company’s 50-day simple moving average is $5.06 and its 200 day simple moving average is $4.22.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last announced its earnings results on Tuesday, May 19th. The restaurant operator reported $0.13 earnings per share (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. Analysts anticipate that Red Robin Gourmet Burgers, Inc. will post -0.5 EPS for the current fiscal year.

Institutional Trading of Red Robin Gourmet Burgers

Several hedge funds and other institutional investors have recently bought and sold shares of RRGB. Dynamic Technology Lab Private Ltd bought a new stake in Red Robin Gourmet Burgers in the first quarter worth $61,000. Goldman Sachs Group Inc. lifted its holdings in shares of Red Robin Gourmet Burgers by 38.8% in the 1st quarter. Goldman Sachs Group Inc. now owns 84,625 shares of the restaurant operator’s stock worth $301,000 after acquiring an additional 23,638 shares during the last quarter. Jane Street Group LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 1st quarter worth about $69,000. JPMorgan Chase & Co. grew its holdings in Red Robin Gourmet Burgers by 5,671.8% during the 2nd quarter. JPMorgan Chase & Co. now owns 133,041 shares of the restaurant operator’s stock valued at $770,000 after purchasing an additional 130,736 shares during the last quarter. Finally, XTX Topco Ltd raised its position in Red Robin Gourmet Burgers by 128.7% in the 2nd quarter. XTX Topco Ltd now owns 31,415 shares of the restaurant operator’s stock worth $182,000 after purchasing an additional 17,679 shares during the period. Hedge funds and other institutional investors own 84.04% of the company’s stock.

About Red Robin Gourmet Burgers

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.