Rave Restaurant Group (NASDAQ:RAVE) Posts Earnings Results

Rave Restaurant Group (NASDAQ:RAVE) released its earnings results on Monday. The restaurant operator reported $0.05 earnings per share (EPS) for the quarter, FiscalAI reports. Rave Restaurant Group had a net margin of 22.29% and a return on equity of 17.94%. The firm had revenue of $3.32 million during the quarter.

Rave Restaurant Group Stock Up 2.4%

Shares of NASDAQ RAVE traded up $0.05 during midday trading on Tuesday, hitting $2.17. The company had a trading volume of 1,000 shares, compared to its average volume of 54,089. Rave Restaurant Group has a twelve month low of $2.06 and a twelve month high of $3.60. The firm has a market capitalization of $30.92 million, a price-to-earnings ratio of 10.33 and a beta of 0.56. The business has a 50-day simple moving average of $2.47 and a two-hundred day simple moving average of $2.84.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Rave Restaurant Group from a “hold (c)” rating to a “hold (c+)” rating in a research report on Wednesday, October 21st. One analyst has rated the stock with a Hold rating. According to MarketBeat, Rave Restaurant Group presently has an average rating of “Hold”.

Institutional Trading of Rave Restaurant Group

A number of institutional investors and hedge funds have recently made changes to their positions in RAVE. NewEdge Advisors LLC boosted its stake in shares of Rave Restaurant Group by 32.3% during the 2nd quarter. NewEdge Advisors LLC now owns 33,067 shares of the restaurant operator’s stock valued at $108,000 after buying an additional 8,067 shares during the last quarter. BlackRock Inc. acquired a new position in Rave Restaurant Group during the second quarter worth about $233,000. Finally, Renaissance Technologies LLC boosted its stake in shares of Rave Restaurant Group by 6.8% during the 1st quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock worth $469,000 after acquiring an additional 11,205 shares in 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 is a restaurant company that develops, operates, and franchises pizza concepts. Its primary brands are Pizza Inn and Pie Five Pizza Co, which serve customers through franchised and company-operated locations.

Pizza Inn is the company’s traditional pizza brand, offering pizza, pasta, salads, desserts, and other menu items through buffet, carryout, delivery, and dine-in formats. Pie Five Pizza Co is a fast-casual concept centered on individually crafted pizzas, allowing customers to select crusts, sauces, cheeses, and toppings before the pizza is baked.

Pizza Inn was founded in 1958, and the company has since expanded its brand portfolio and franchising activities.