Short Interest in Rave Restaurant Group, Inc. (NASDAQ:RAVE) Grows By 34.7%

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 71,500 shares, an increase of 34.7% from the February 13th total of 53,100 shares. Approximately 0.9% of the shares of the stock are sold short. Based on an average daily volume of 31,500 shares, the short-interest ratio is currently 2.3 days.

Institutional Trading of Rave Restaurant Group

A number of institutional investors have recently bought and sold shares of RAVE. Geode Capital Management LLC boosted its position in Rave Restaurant Group by 36.9% during the third quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock valued at $264,000 after acquiring an additional 34,977 shares during the last quarter. Two Sigma Securities LLC bought a new position in shares of Rave Restaurant Group during the 4th quarter worth about $29,000. Finally, Dimensional Fund Advisors LP boosted its position in shares of Rave Restaurant Group by 28.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock worth $78,000 after purchasing an additional 6,682 shares in the last quarter. Institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Stock Up 1.8 %

Shares of NASDAQ:RAVE traded up $0.05 during trading on Monday, hitting $2.89. 4,213 shares of the company were exchanged, compared to its average volume of 30,449. The company has a market capitalization of $42.52 million, a P/E ratio of 16.06 and a beta of 0.43. Rave Restaurant Group has a 1-year low of $1.70 and a 1-year high of $3.36. The business’s 50 day moving average is $2.64 and its 200-day moving average is $2.58.

Rave Restaurant Group (NASDAQ:RAVE) last issued its quarterly earnings results on Thursday, February 6th. The restaurant operator reported $0.04 EPS for the quarter. Rave Restaurant Group had a net margin of 21.80% and a return on equity of 20.68%.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Rave Restaurant Group in a research report on Wednesday, March 12th. They set a “buy” rating for the company.

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.