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

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant increase in short interest in the month of June. As of June 15th, there was short interest totaling 40,210 shares, an increase of 167.5% from the May 31st total of 15,029 shares. Based on an average trading volume of 40,743 shares, the days-to-cover ratio is presently 1.0 days. Currently, 0.4% of the shares of the company are short sold.

Rave Restaurant Group Stock Performance

NASDAQ:RAVE opened at $3.42 on Monday. The stock has a fifty day moving average price of $2.91 and a two-hundred day moving average price of $2.93. 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 has a 1 year low of $2.25 and a 1 year high of $3.75.

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

Institutional Investors Weigh In On Rave Restaurant Group

A number of hedge funds and other institutional investors have recently modified their holdings of RAVE. Saber Capital Managment LLC acquired a new stake in shares of Rave Restaurant Group in the 4th quarter worth approximately $514,000. True North Advisors LLC purchased a new position in Rave Restaurant Group in the 4th quarter valued at approximately $352,000. Evergreen Capital Management LLC acquired a new position in Rave Restaurant Group during the second quarter worth $56,000. Renaissance Technologies LLC raised its holdings in Rave Restaurant Group by 11.1% during the fourth quarter. Renaissance Technologies LLC now owns 165,856 shares of the restaurant operator’s stock worth $547,000 after purchasing an additional 16,598 shares during the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Rave Restaurant Group by 87.2% during the fourth quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock worth $99,000 after purchasing an additional 13,946 shares during the last quarter. 15.12% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock presently 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.