Rave Restaurant Group (NASDAQ:RAVE) Shares Cross Above 200 Day Moving Average – Here’s Why

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s share price passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.21 and traded as high as $3.05. Rave Restaurant Group shares last traded at $3.02, with a volume of 10,246 shares changing hands.

Analysts Set New Price Targets

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

Rave Restaurant Group Stock Performance

The firm has a market capitalization of $44.42 million, a P/E ratio of 16.78 and a beta of 0.56. The stock has a 50 day moving average of $2.86 and a 200-day moving average of $2.21.

Rave Restaurant Group (NASDAQ:RAVE) last posted its quarterly earnings results on Thursday, September 26th. The restaurant operator reported $0.06 earnings per share (EPS) for the quarter. The company had revenue of $3.36 million for the quarter. Rave Restaurant Group had a net margin of 21.49% and a return on equity of 21.37%.

Institutional Investors Weigh In On Rave Restaurant Group

An institutional investor recently bought a new position in Rave Restaurant Group stock. Juncture Wealth Strategies LLC acquired a new stake in shares of Rave Restaurant Group, Inc. (NASDAQ:RAVE) during the third quarter, according to its most recent filing with the SEC. The fund acquired 24,132 shares of the restaurant operator’s stock, valued at approximately $49,000. Juncture Wealth Strategies LLC owned 0.17% of Rave Restaurant Group as of its most recent filing with the SEC. 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.