Rave Restaurant Group (NASDAQ:RAVE) Shares Pass Above 200-Day Moving Average of $1.99

Rave Restaurant Group, Inc. (NASDAQ:RAVE) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.99 and traded as high as $2.05. Rave Restaurant Group shares last traded at $1.98, with a volume of 20,817 shares traded.

Analyst Upgrades and Downgrades

Separately, StockNews.com started coverage on Rave Restaurant Group in a report on Saturday. They set a “buy” rating on the stock.

Rave Restaurant Group Stock Down 2.9 %

The firm has a market cap of $28.89 million, a P/E ratio of 13.20 and a beta of 0.66. The business’s 50 day moving average is $1.93 and its 200-day moving average is $1.99.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Rave Restaurant Group stock. Corsair Capital Management L.P. boosted its position in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) by 5.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 172,573 shares of the restaurant operator’s stock after buying an additional 8,258 shares during the quarter. Corsair Capital Management L.P. owned 1.18% of Rave Restaurant Group worth $385,000 at the end of the most recent quarter. 15.12% of the stock is currently owned by 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.