Rave Restaurant Group, Inc. (NASDAQ:RAVE) Sees Significant Increase in Short Interest

Rave Restaurant Group, Inc. (NASDAQ:RAVE) saw a large increase in short interest during the month of September. As of September 15th, there was short interest totaling 50,400 shares, an increase of 101.6% from the August 31st total of 25,000 shares. Based on an average trading volume of 32,900 shares, the short-interest ratio is currently 1.5 days. Approximately 0.6% of the company’s shares are short sold. Approximately 0.6% of the company’s shares are short sold. Based on an average trading volume of 32,900 shares, the short-interest ratio is currently 1.5 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of Rave Restaurant Group in a research note on Saturday, September 27th. One equities research analyst has rated the stock with a Buy rating, According to MarketBeat, Rave Restaurant Group presently has a consensus rating of “Buy”.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. Watchman Group Inc. increased its holdings in Rave Restaurant Group by 5.6% during the 1st quarter. Watchman Group Inc. now owns 182,800 shares of the restaurant operator’s stock valued at $503,000 after purchasing an additional 9,700 shares during the period. Militia Capital Partners LP purchased a new position in Rave Restaurant Group during the 1st quarter valued at about $30,000. Finally, Evergreen Capital Management LLC purchased a new position in Rave Restaurant Group during the 2nd quarter valued at about $56,000. Hedge funds and other institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Trading Down 2.8%

NASDAQ RAVE opened at $3.17 on Friday. Rave Restaurant Group has a 1-year low of $2.01 and a 1-year high of $3.75. The stock has a 50-day moving average of $3.19 and a 200-day moving average of $2.80. The firm has a market cap of $45.05 million, a PE ratio of 16.69 and a beta of 0.27.

Rave Restaurant Group (NASDAQ:RAVE) last released its earnings results on Thursday, September 25th. The restaurant operator reported $0.06 earnings per share for the quarter. Rave Restaurant Group had a return on equity of 19.80% and a net margin of 22.44%.The company had revenue of $3.15 million during the quarter.

About Rave Restaurant Group

Rave Restaurant Group, Inc, together with its subsidiaries, engages in the operation and franchising of pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn and Pie Five trademarks in the United States and internationally. The company operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.