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

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s stock price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.60 and traded as high as $2.77. Rave Restaurant Group shares last traded at $2.73, with a volume of 8,993 shares trading hands.

Wall Street Analyst Weigh In

Separately, Wall Street Zen initiated coverage on Rave Restaurant Group in a research note on Thursday, May 15th. They set a “buy” rating for the company.

Rave Restaurant Group Price Performance

The stock has a 50 day simple moving average of $2.60 and a 200-day simple moving average of $2.60. The firm has a market cap of $38.79 million, a PE ratio of 14.37 and a beta of 0.11.

Rave Restaurant Group (NASDAQ:RAVE) last announced its quarterly earnings data on Thursday, May 8th. The restaurant operator reported $0.05 earnings per share (EPS) for the quarter. The business had revenue of $2.97 million during the quarter. Rave Restaurant Group had a return on equity of 20.59% and a net margin of 22.34%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Two Sigma Securities LLC purchased a new position in shares of Rave Restaurant Group in the fourth quarter worth $29,000. Militia Capital Partners LP purchased a new position in shares of Rave Restaurant Group in the first quarter worth $30,000. Dimensional Fund Advisors LP raised its stake in shares of 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 worth $78,000 after purchasing an additional 6,682 shares during the last quarter. Finally, Watchman Group Inc. raised its stake in shares of Rave Restaurant Group by 5.6% in the first quarter. Watchman Group Inc. now owns 182,800 shares of the restaurant operator’s stock worth $503,000 after purchasing an additional 9,700 shares during the last quarter. 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.