Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Update

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant drop in short interest in the month of August. As of August 14th, there was short interest totaling 25,194 shares, a drop of 37.3% from the July 30th total of 40,169 shares. Based on an average daily volume of 21,272 shares, the days-to-cover ratio is presently 1.2 days. Approximately 0.2% of the shares of the stock are short sold.

Analysts Set New Price Targets

Separately, Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Rave Restaurant Group in a report on Friday, July 31st. One research analyst has rated the stock with a Hold rating, According to data from MarketBeat, the stock currently has an average rating of “Hold”.

Rave Restaurant Group Stock Performance

Shares of Rave Restaurant Group stock traded down $0.06 on Tuesday, reaching $3.08. The company had a trading volume of 24,273 shares, compared to its average volume of 50,400. The firm’s 50 day moving average price is $3.20 and its two-hundred day moving average price is $2.94. Rave Restaurant Group has a 52-week low of $2.25 and a 52-week high of $3.75. The firm has a market cap of $43.77 million, a PE ratio of 14.67 and a beta of 0.42.

Institutional Investors Weigh In On Rave Restaurant Group

A number of institutional investors have recently modified their holdings of the company. Goldman Sachs Group Inc. purchased a new position in Rave Restaurant Group during the 4th quarter valued at about $35,000. Evergreen Capital Management LLC acquired a new position in Rave Restaurant Group during the 2nd quarter worth $56,000. James Investment Research Inc. boosted its stake in shares of Rave Restaurant Group by 56.2% in the 1st quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock valued at $66,000 after buying an additional 9,000 shares during the period. NewEdge Advisors LLC grew its position in shares of 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 buying an additional 13,946 shares in the last quarter. Finally, Susquehanna International Group LLP raised its holdings in Rave Restaurant Group by 50.7% in the third quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock valued at $99,000 after acquiring an additional 10,063 shares in the last quarter. 15.12% of the stock is owned by institutional investors and hedge funds.

Rave Restaurant Group Company Profile

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.