Rave Restaurant Group (NASDAQ:RAVE) Share Price Crosses Above 200-Day Moving Average of $1.79

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s share price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.79 and traded as high as $1.89. Rave Restaurant Group shares last traded at $1.67, with a volume of 173,716 shares trading hands.

Wall Street Analysts Forecast Growth

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

Rave Restaurant Group Stock Performance

The company has a market capitalization of $23.63 million, a PE ratio of 3.80 and a beta of 0.71. The firm has a fifty day simple moving average of $2.09 and a 200 day simple moving average of $1.79.

Institutional Trading of Rave Restaurant Group

Institutional investors and hedge funds have recently made changes to their positions in the company. Virtu Financial LLC grew its holdings in Rave Restaurant Group by 166.2% during the 1st quarter. Virtu Financial LLC now owns 67,144 shares of the restaurant operator’s stock worth $72,000 after acquiring an additional 41,918 shares in the last quarter. Renaissance Technologies LLC boosted its stake in shares of Rave Restaurant Group by 38.2% during the third quarter. Renaissance Technologies LLC now owns 243,800 shares of the restaurant operator’s stock valued at $341,000 after purchasing an additional 67,444 shares in the last quarter. Geode Capital Management LLC increased its holdings in Rave Restaurant Group by 5.3% during the fourth quarter. Geode Capital Management LLC now owns 137,411 shares of the restaurant operator’s stock valued at $217,000 after buying an additional 6,896 shares during the period. Corsair Capital Management L.P. raised its stake in Rave Restaurant Group by 48.2% in the first quarter. Corsair Capital Management L.P. now owns 138,966 shares of the restaurant operator’s stock worth $200,000 after buying an additional 45,190 shares in the last quarter. Finally, Heron Bay Capital Management purchased a new stake in Rave Restaurant Group during the second quarter worth $43,000. 8.55% of the stock is currently owned by institutional investors.

Rave Restaurant Group Company Profile

Rave Restaurant Group, Inc, together with its subsidiaries, operates and franchises pizza buffet, delivery/carry-out (delco), and express restaurants under the Pizza Inn trademark in the United States and internationally. It operates through three segments: Pizza Inn Franchising, Pie Five Franchising, and Company-Owned Restaurants.