Rave Restaurant Group (NASDAQ:RAVE) Shares Cross Above Two Hundred Day Moving Average of $1.99

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s stock price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.99 and traded as high as $2.05. Rave Restaurant Group shares last traded at $1.98, with a volume of 20,817 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, StockNews.com began coverage on Rave Restaurant Group in a report on Saturday. They set a “buy” rating on the stock.

Rave Restaurant Group Price Performance

The company’s fifty day moving average price is $1.93 and its 200 day moving average price is $1.99. The company has a market cap of $28.89 million, a PE ratio of 13.20 and a beta of 0.66.

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

Institutional Trading of Rave Restaurant Group

A hedge fund recently raised its stake in Rave Restaurant Group stock. Corsair Capital Management L.P. boosted its stake in Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% during the fourth 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 purchasing an additional 8,258 shares during the quarter. Corsair Capital Management L.P. owned about 1.18% of Rave Restaurant Group worth $385,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 15.12% of the stock is currently owned by institutional investors.

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.