Rave Restaurant Group (NASDAQ:RAVE) Share Price Passes Above 200-Day Moving Average – Here’s Why

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.93 and traded as high as $3.00. Rave Restaurant Group shares last traded at $2.89, with a volume of 204,811 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings restated a “hold (c+)” rating on shares of Rave Restaurant Group in a report on Friday, July 31st. One analyst has rated the stock with a Hold rating, According to MarketBeat.com, the company currently has a consensus rating of “Hold”.

Rave Restaurant Group Stock Performance

The firm’s fifty day moving average price is $3.16 and its 200 day moving average price is $2.93. The firm has a market cap of $42.07 million, a P/E ratio of 14.10 and a beta of 0.43.

Institutional Trading of Rave Restaurant Group

A number of hedge funds have recently bought and sold shares of the stock. NewEdge Advisors LLC increased its holdings in shares of Rave Restaurant Group by 32.3% in the 2nd quarter. NewEdge Advisors LLC now owns 33,067 shares of the restaurant operator’s stock valued at $108,000 after acquiring an additional 8,067 shares during the period. BlackRock Inc. bought a new position in shares of Rave Restaurant Group in the 2nd quarter worth $233,000. Renaissance Technologies LLC lifted its stake in shares of Rave Restaurant Group by 6.8% during the 1st quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock worth $469,000 after purchasing an additional 11,205 shares during the last quarter. James Investment Research Inc. lifted its stake in shares of Rave Restaurant Group by 56.2% during the 1st quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock worth $66,000 after purchasing an additional 9,000 shares during the last quarter. Finally, Saber Capital Managment LLC bought a new stake in Rave Restaurant Group during the fourth quarter valued at about $514,000. Hedge funds and other institutional investors own 15.12% of the company’s stock.

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.