Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Grows By 167.5%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 40,210 shares, a growth of 167.5% from the May 31st total of 15,029 shares. Currently, 0.4% of the company’s stock are short sold. Based on an average daily trading volume, of 40,743 shares, the short-interest ratio is currently 1.0 days.

Rave Restaurant Group Price Performance

Shares of Rave Restaurant Group stock opened at $3.42 on Monday. The firm’s fifty day simple moving average is $2.91 and its 200-day simple moving average is $2.93. Rave Restaurant Group has a 12 month low of $2.25 and a 12 month high of $3.75. The stock has a market capitalization of $48.60 million, a price-to-earnings ratio of 16.29 and a beta of 0.41.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $0.06 earnings per share for the quarter. Rave Restaurant Group had a net margin of 23.19% and a return on equity of 19.22%. The firm had revenue of $3.22 million during the quarter.

Hedge Funds Weigh In On Rave Restaurant Group

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Evergreen Capital Management LLC acquired a new stake in Rave Restaurant Group during the 2nd quarter worth approximately $56,000. Susquehanna International Group LLP raised its stake in shares of Rave Restaurant Group by 50.7% during the third quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock worth $99,000 after purchasing an additional 10,063 shares during the last quarter. True North Advisors LLC acquired a new stake in shares of Rave Restaurant Group during the fourth quarter worth $352,000. Goldman Sachs Group Inc. purchased a new position in Rave Restaurant Group in the 4th quarter valued at $35,000. Finally, Renaissance Technologies LLC increased its stake in 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 buying an additional 16,598 shares during the period. Hedge funds and other institutional investors own 15.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Weiss Ratings cut shares of Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, May 4th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Rave Restaurant Group currently has an average rating of “Hold”.

About Rave Restaurant Group

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.