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

Rave Restaurant Group, Inc. (NASDAQ:RAVE) was the recipient of a large increase in short interest in June. As of June 30th, there was short interest totalling 35,500 shares, an increase of 60.6% from the June 15th total of 22,100 shares. Currently, 0.4% of the company’s shares are sold short. Based on an average trading volume of 21,000 shares, the short-interest ratio is currently 1.7 days.

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. raised its holdings in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm 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 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 and hedge funds.

Rave Restaurant Group Price Performance

Shares of RAVE traded up $0.03 during trading hours on Friday, hitting $1.84. The stock had a trading volume of 24,744 shares, compared to its average volume of 29,053. The firm has a 50 day simple moving average of $1.89 and a 200-day simple moving average of $1.97. The firm has a market capitalization of $26.85 million, a P/E ratio of 12.07 and a beta of 0.56. Rave Restaurant Group has a 1-year low of $1.62 and a 1-year high of $2.64.

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

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Rave Restaurant Group in a research report on Sunday, July 7th. They issued a “buy” rating for the company.

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.