Rave Restaurant Group (NASDAQ:RAVE) Stock Price Crosses Above 200 Day Moving Average – Here’s Why

Rave Restaurant Group, Inc. (NASDAQ:RAVE)’s share price crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.07 and traded as high as $2.91. Rave Restaurant Group shares last traded at $2.82, with a volume of 57,299 shares.

Wall Street Analysts Forecast Growth

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

Rave Restaurant Group Trading Down 0.8 %

The firm’s 50-day moving average is $2.52 and its two-hundred day moving average is $2.08. The stock has a market cap of $41.89 million, a price-to-earnings ratio of 15.82 and a beta of 0.51.

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

Institutional Trading of Rave Restaurant Group

A hedge fund recently bought a new stake in Rave Restaurant Group stock. Juncture Wealth Strategies LLC bought a new position in Rave Restaurant Group, Inc. (NASDAQ:RAVE) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 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 at the end of the most recent reporting period. 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.