Rave Restaurant Group (NASDAQ:RAVE) Share Price Passes Above 200-Day Moving Average – Should You Sell?

Rave Restaurant Group, Inc. (NASDAQ:RAVE) shares crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.90 and traded as high as $3.03. Rave Restaurant Group shares last traded at $2.90, with a volume of 104,599 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Rave Restaurant Group from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, May 4th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, Rave Restaurant Group currently has a consensus rating of “Hold”.

Rave Restaurant Group Price Performance

The stock has a fifty day moving average price of $2.62 and a two-hundred day moving average price of $2.90. The company has a market cap of $41.21 million, a P/E ratio of 13.81 and a beta of 0.39.

Rave Restaurant Group (NASDAQ:RAVE) last released its quarterly earnings results on Thursday, May 7th. The restaurant operator reported $0.06 earnings per share for the quarter. The company had revenue of $3.22 million for the quarter. Rave Restaurant Group had a return on equity of 19.22% and a net margin of 23.19%.

Institutional Investors Weigh In On Rave Restaurant Group

Hedge funds have recently made changes to their positions in the business. James Investment Research Inc. grew its position in Rave Restaurant Group by 56.3% in the first quarter. James Investment Research Inc. now owns 25,000 shares of the restaurant operator’s stock worth $66,000 after buying an additional 9,000 shares during the last quarter. Susquehanna International Group LLP grew its position in Rave Restaurant Group by 50.7% in the third quarter. Susquehanna International Group LLP now owns 29,902 shares of the restaurant operator’s stock worth $99,000 after buying an additional 10,063 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in Rave Restaurant Group in the fourth quarter worth approximately $35,000. Renaissance Technologies LLC grew its position in Rave Restaurant Group by 6.8% in the first quarter. Renaissance Technologies LLC now owns 177,061 shares of the restaurant operator’s stock worth $469,000 after buying an additional 11,205 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Rave Restaurant Group by 87.2% in the fourth quarter. NewEdge Advisors LLC now owns 29,946 shares of the restaurant operator’s stock worth $99,000 after buying an additional 13,946 shares during the last quarter. Institutional investors own 15.12% of the company’s stock.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc, through its subsidiaries, develops, operates and franchises a fast‐casual pizza restaurant concept under the Rave Restaurant Group brand. The company’s locations feature made‐to‐order artisanal pizzas, calzones, salads, desserts and specialty beverages, with service options that include dine‐in, takeout, delivery and catering. A proprietary digital platform supports each restaurant’s point‐of‐sale, online ordering and loyalty programs, aiming to enhance guest convenience and operational efficiency.

Founded in 2008 and headquartered in Miami, Florida, RAVE Restaurant Group has grown its footprint to include both company‐owned and franchised units across select U.S.