Rave Restaurant Group (NASDAQ:RAVE) Stock Crosses Above 200 Day Moving Average – Here’s What Happened

Shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.95 and traded as high as $3.11. Rave Restaurant Group shares last traded at $3.10, with a volume of 866 shares changing hands.

Analysts Set New Price Targets

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

Rave Restaurant Group Price Performance

The stock has a market capitalization of $44.76 million, a price-to-earnings ratio of 15.00 and a beta of 0.42. The firm has a 50 day simple moving average of $3.21 and a 200-day simple moving average of $2.95.

Hedge Funds Weigh In On Rave Restaurant Group

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. acquired a new stake in shares of Rave Restaurant Group during the fourth quarter worth approximately $35,000. Evergreen Capital Management LLC acquired a new stake in Rave Restaurant Group during the 2nd quarter valued at $56,000. James Investment Research Inc. increased its holdings in 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 valued at $66,000 after purchasing an additional 9,000 shares in the last quarter. NewEdge Advisors LLC raised its position in Rave Restaurant Group by 87.2% in the 4th quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock valued at $99,000 after purchasing an additional 13,946 shares during the last quarter. Finally, Susquehanna International Group LLP raised its position in Rave Restaurant Group by 50.7% in the 3rd quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock valued at $99,000 after purchasing an additional 10,063 shares during the last quarter. 15.12% of the stock is currently owned by institutional investors and hedge funds.

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.