Rave Restaurant Group (NASDAQ:RAVE) Stock Price Passes Above Two Hundred Day Moving Average – What’s Next?

Shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.51 and traded as high as $3.20. Rave Restaurant Group shares last traded at $2.85, with a volume of 49,528 shares trading hands.

Wall Street Analyst Weigh In

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

Rave Restaurant Group Price Performance

The firm has a fifty day simple moving average of $2.60 and a 200 day simple moving average of $2.51. The company has a market cap of $41.93 million, a price-to-earnings ratio of 15.83 and a beta of 0.59.

Rave Restaurant Group (NASDAQ:RAVE) last announced its quarterly earnings results on Thursday, February 6th. The restaurant operator reported $0.04 EPS for the quarter. Rave Restaurant Group had a return on equity of 20.68% and a net margin of 21.80%.

Institutional Investors Weigh In On Rave Restaurant Group

Several hedge funds and other institutional investors have recently modified their holdings of RAVE. Geode Capital Management LLC grew its stake in shares of Rave Restaurant Group by 36.9% in the third quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock worth $264,000 after acquiring an additional 34,977 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Rave Restaurant Group by 28.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock worth $78,000 after acquiring an additional 6,682 shares during the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Rave Restaurant Group in the fourth quarter worth $29,000. Institutional investors and hedge funds own 15.12% of the company’s 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.