Rave Restaurant Group, Inc. (NASDAQ:RAVE) Sees Large Growth in Short Interest

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a large increase in short interest in the month of June. As of June 30th, there was short interest totalling 35,500 shares, an increase of 60.6% from the June 15th total of 22,100 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average daily trading volume, of 21,000 shares, the days-to-cover ratio is presently 1.7 days.

Rave Restaurant Group Price Performance

Rave Restaurant Group stock traded up $0.03 during trading hours on Friday, hitting $1.84. The company had a trading volume of 24,744 shares, compared to its average volume of 29,053. The firm has a market capitalization of $26.85 million, a P/E ratio of 12.07 and a beta of 0.56. The firm’s fifty day moving average is $1.89 and its 200-day moving average is $1.97. Rave Restaurant Group has a fifty-two week low of $1.62 and a fifty-two week high of $2.64.

Rave Restaurant Group (NASDAQ:RAVE) last released its quarterly earnings data on Thursday, May 2nd. The restaurant operator reported $0.04 earnings per share for the quarter. The firm had revenue of $2.96 million for the quarter. Rave Restaurant Group had a net margin of 18.74% and a return on equity of 20.19%.

Institutional Trading of Rave Restaurant Group

A hedge fund recently raised its stake in Rave Restaurant Group stock. Corsair Capital Management L.P. grew its holdings in Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,573 shares of the restaurant operator’s stock after acquiring an additional 8,258 shares during the period. Corsair Capital Management L.P. owned 1.18% of Rave Restaurant Group worth $385,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 15.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Rave Restaurant Group in a research note on Sunday, July 7th. They issued a “buy” rating on the stock.

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.