Rave Restaurant Group, Inc. (NASDAQ:RAVE) Short Interest Update

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a large decline in short interest in April. As of April 15th, there was short interest totalling 22,700 shares, a decline of 39.9% from the March 31st total of 37,800 shares. Currently, 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 34,900 shares, the days-to-cover ratio is presently 0.7 days.

Insiders Place Their Bets

In related news, insider Value Llp Ima bought 51,921 shares of the business’s stock in a transaction dated Monday, January 29th. The shares were acquired at an average price of $1.96 per share, for a total transaction of $101,765.16. Following the purchase, the insider now owns 1,011,807 shares in the company, valued at approximately $1,983,141.72. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. 27.80% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Rave Restaurant Group

A hedge fund recently bought a new stake in Rave Restaurant Group stock. James Investment Research Inc. acquired a new position in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 15,000 shares of the restaurant operator’s stock, valued at approximately $36,000. James Investment Research Inc. owned 0.11% of Rave Restaurant Group as of its most recent SEC filing. Institutional investors own 15.12% of the company’s stock.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Rave Restaurant Group in a research note on Friday. They issued a “buy” rating on the stock.

Rave Restaurant Group Stock Performance

Shares of Rave Restaurant Group stock remained flat at $2.10 during trading on Friday. 10,266 shares of the stock were exchanged, compared to its average volume of 21,990. The firm has a market capitalization of $30.63 million, a P/E ratio of 16.15 and a beta of 0.33. Rave Restaurant Group has a 1-year low of $1.50 and a 1-year high of $2.64. The firm’s fifty day simple moving average is $1.99 and its two-hundred day simple moving average is $2.11.

Rave Restaurant Group (NASDAQ:RAVE) last released its quarterly earnings data on Thursday, February 1st. The restaurant operator reported $0.04 earnings per share for the quarter. The firm had revenue of $2.79 million for the quarter. Rave Restaurant Group had a net margin of 15.94% and a return on equity of 18.06%.

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.