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

Rave Restaurant Group, Inc. (NASDAQ:RAVE) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.63 and traded as high as $2.85. Rave Restaurant Group shares last traded at $2.79, with a volume of 9,916 shares.

Wall Street Analysts Forecast Growth

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

Rave Restaurant Group Price Performance

The stock has a 50 day simple moving average of $2.68 and a two-hundred day simple moving average of $2.63. The company has a market capitalization of $41.05 million, a price-to-earnings ratio of 15.50 and a beta of 0.43.

Rave Restaurant Group (NASDAQ:RAVE) last posted its 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%.

Institutional Investors Weigh In On Rave Restaurant Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Two Sigma Securities LLC acquired a new stake in shares of Rave Restaurant Group during the fourth quarter worth about $29,000. Dimensional Fund Advisors LP boosted its position in shares of Rave Restaurant Group by 28.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock valued at $78,000 after purchasing an additional 6,682 shares during the period. Finally, Geode Capital Management LLC grew its stake in Rave Restaurant Group by 36.9% during the 3rd quarter. Geode Capital Management LLC now owns 129,864 shares of the restaurant operator’s stock worth $264,000 after buying an additional 34,977 shares during the last quarter. 15.12% of the stock is owned by hedge funds and other 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.