Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Up 72.2% in July

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant growth in short interest in the month of July. As of July 31st, there was short interest totaling 40,169 shares, a growth of 72.2% from the July 15th total of 23,324 shares. Based on an average trading volume of 25,440 shares, the short-interest ratio is currently 1.6 days. Approximately 0.4% of the shares of the company are sold short.

Rave Restaurant Group Stock Up 1.0%

NASDAQ:RAVE traded up $0.03 during trading hours on Monday, hitting $3.07. 17,901 shares of the stock traded hands, compared to its average volume of 52,486. Rave Restaurant Group has a 1 year low of $2.25 and a 1 year high of $3.75. The company has a market cap of $43.62 million, a price-to-earnings ratio of 14.62 and a beta of 0.42. The stock has a 50 day moving average price of $3.23 and a 200 day moving average price of $2.96.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reiterated a “hold (c+)” rating on shares of Rave Restaurant Group in a research note on Friday, July 31st. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold”.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of RAVE. Saber Capital Managment LLC purchased a new stake in Rave Restaurant Group in the 4th quarter worth $514,000. 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 valued at $99,000 after acquiring an additional 13,946 shares during the period. Renaissance Technologies LLC lifted its position in shares of Rave Restaurant Group by 11.1% in the fourth quarter. Renaissance Technologies LLC now owns 165,856 shares of the restaurant operator’s stock valued at $547,000 after acquiring an additional 16,598 shares in the last quarter. Susquehanna International Group LLP lifted its position in shares of 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. Finally, BlackRock Inc. bought a new position in shares of Rave Restaurant Group in the second quarter worth about $233,000. 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.