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

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 16,500 shares, a decrease of 17.5% from the August 15th total of 20,000 shares. Based on an average daily volume of 18,800 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.2% of the shares of the company are short sold.

Institutional Investors Weigh In On Rave Restaurant Group

A hedge fund recently raised its stake in Rave Restaurant Group stock. Corsair Capital Management L.P. boosted its stake in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 172,573 shares of the restaurant operator’s stock after acquiring an additional 8,258 shares during the quarter. Corsair Capital Management L.P. owned 1.18% of Rave Restaurant Group worth $385,000 as of its most recent SEC filing. Institutional investors own 15.12% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Rave Restaurant Group in a research note on Tuesday. They set a “buy” rating on the stock.

Rave Restaurant Group Stock Down 1.1 %

NASDAQ RAVE opened at $1.76 on Tuesday. The stock has a market cap of $25.67 million, a P/E ratio of 11.73 and a beta of 0.56. Rave Restaurant Group has a twelve month low of $1.62 and a twelve month high of $2.64. The company’s 50-day simple moving average is $1.81 and its 200 day simple moving average is $1.90.

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.