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

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 $2.56 and traded as high as $3.05. Rave Restaurant Group shares last traded at $2.98, with a volume of 20,643 shares.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on 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’s 50 day moving average is $2.63 and its 200 day moving average is $2.56. The stock has a market capitalization of $43.84 million, a price-to-earnings ratio of 16.56 and a beta of 0.43.

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

Institutional Investors Weigh In On Rave Restaurant Group

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC increased its position in Rave Restaurant Group by 36.9% during the third 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 in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of Rave Restaurant Group by 28.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 30,449 shares of the restaurant operator’s stock valued at $78,000 after acquiring an additional 6,682 shares during the last quarter. Finally, Two Sigma Securities LLC purchased a new stake in Rave Restaurant Group during the 4th quarter worth about $29,000. Hedge funds and other institutional investors 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.