Rave Restaurant Group (NASDAQ:RAVE) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.56 and traded as high as $3.05. Rave Restaurant Group shares last traded at $2.98, with a volume of 20,643 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on shares of Rave Restaurant Group in a report on Wednesday. They issued a “buy” rating on the stock.

Rave Restaurant Group Trading Up 4.9 %

The stock has a fifty day simple moving average of $2.63 and a two-hundred day simple moving average of $2.56. The company has a market cap of $43.84 million, a PE ratio of 16.56 and a beta of 0.43.

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

Hedge Funds Weigh In On Rave Restaurant Group

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Geode Capital Management LLC lifted 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 valued at $264,000 after purchasing an additional 34,977 shares during the period. Dimensional Fund Advisors LP increased its holdings in 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 valued at $78,000 after buying an additional 6,682 shares in the last quarter. Finally, Two Sigma Securities LLC acquired a new stake in shares of Rave Restaurant Group during the 4th quarter valued at approximately $29,000. 15.12% of the stock is owned by institutional investors and hedge funds.

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.