StockNews.com Begins Coverage on Rave Restaurant Group (NASDAQ:RAVE)

Research analysts at StockNews.com assumed coverage on shares of Rave Restaurant Group (NASDAQ:RAVE) in a research note issued to investors on Monday. The firm set a “buy” rating on the restaurant operator’s stock.

Rave Restaurant Group Trading Down 2.3 %

NASDAQ:RAVE opened at $2.58 on Monday. Rave Restaurant Group has a 12-month low of $1.64 and a 12-month high of $3.36. The stock’s 50 day simple moving average is $2.88 and its 200-day simple moving average is $2.28. The firm has a market cap of $37.96 million, a P/E ratio of 14.33 and a beta of 0.56.

Hedge Funds Weigh In On Rave Restaurant Group

An institutional investor recently raised its position in Rave Restaurant Group stock. Geode Capital Management LLC increased its stake in Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 36.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 129,864 shares of the restaurant operator’s stock after purchasing an additional 34,977 shares during the quarter. Geode Capital Management LLC owned 0.88% of Rave Restaurant Group worth $264,000 at the end of the most recent quarter. 15.12% of the stock is owned by hedge funds and other institutional investors.

Rave Restaurant Group Company Profile

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.