Red Robin Gourmet Burgers (NASDAQ:RRGB) Stock Price Crosses Above Two Hundred Day Moving Average – Time to Sell?

Red Robin Gourmet Burgers, Inc. (NASDAQ:RRGB)’s share price passed above its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $6.40 and traded as high as $9.43. Red Robin Gourmet Burgers shares last traded at $8.81, with a volume of 152,306 shares trading hands.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on RRGB. Wall Street Zen upgraded shares of Red Robin Gourmet Burgers from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research lowered shares of Red Robin Gourmet Burgers from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 6th. Benchmark upped their price objective on Red Robin Gourmet Burgers from $8.00 to $10.00 and gave the company a “buy” rating in a report on Thursday, August 13th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of Red Robin Gourmet Burgers in a report on Thursday. Two research analysts have rated the stock with a Buy rating and two have given a Sell rating to the company. According to MarketBeat, Red Robin Gourmet Burgers presently has an average rating of “Hold” and an average target price of $8.33.

Red Robin Gourmet Burgers Trading Down 3.6%

The firm has a market capitalization of $166.51 million, a PE ratio of -5.21 and a beta of 2.49. The business has a fifty day moving average price of $8.46 and a two-hundred day moving average price of $6.40.

Red Robin Gourmet Burgers (NASDAQ:RRGB) last issued its quarterly earnings data on Wednesday, August 12th. The restaurant operator reported $0.12 earnings per share (EPS) for the quarter. The business had revenue of $277.64 million for the quarter, compared to analyst estimates of $268.56 million. On average, equities analysts forecast that Red Robin Gourmet Burgers, Inc. will post -0.63 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the stock. Hsbc Holdings PLC purchased a new stake in shares of Red Robin Gourmet Burgers in the 2nd quarter valued at approximately $96,000. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Red Robin Gourmet Burgers during the 2nd quarter worth approximately $126,000. NewEdge Advisors LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 2nd quarter worth approximately $160,000. MB Generational Wealth LLC purchased a new position in shares of Red Robin Gourmet Burgers during the 1st quarter worth approximately $59,000. Finally, Dimensional Fund Advisors LP increased its holdings in Red Robin Gourmet Burgers by 66.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 35,015 shares of the restaurant operator’s stock valued at $102,000 after purchasing an additional 13,929 shares during the last quarter. Hedge funds and other institutional investors own 84.04% of the company’s stock.

Red Robin Gourmet Burgers Company Profile

Red Robin Gourmet Burgers, Inc (NASDAQ: RRGB) is a casual dining restaurant company known for its gourmet burgers and family-friendly dining experience. Its menu includes a variety of burgers, chicken sandwiches, salads, appetizers, entrées, desserts, milkshakes and beverages, along with its signature bottomless steak fries.

The company operates restaurants under the Red Robin name through a combination of company-owned and franchised locations. Its restaurants primarily serve customers in the United States, with a presence in Canada through franchised operations.