Rave Restaurant Group (NASDAQ:RAVE) Shares Pass Above 200-Day Moving Average - Time to Sell?

Key Points

• Rave Restaurant Group's share price exceeded its 200-day moving average, trading at $3.64 after reaching a high of $3.69, indicating potential bullish momentum.
• The company has a market capitalization of $51.73 million and a PE ratio of 19.16, with institutional investors holding approximately 15.12% of its stock.
• Hedge funds such as Watchman Group Inc. and Militia Capital Partners LP have recently increased their stakes in Rave Restaurant Group, suggesting growing interest among institutional investors.

Rave Restaurant Group, Inc. (NASDAQ:RAVE - )'s share price passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $2.77 and traded as high as $3.69. Rave Restaurant Group shares last traded at $3.64, with a volume of 59,945 shares traded.

Rave Restaurant Group Trading Up 1.1%

The company has a 50-day simple moving average of $3.10 and a 200 day simple moving average of $2.77. The firm has a market cap of $51.73 million, a PE ratio of 19.16 and a beta of 0.32.

Institutional Investors Weigh In On Rave Restaurant Group

Several hedge funds have recently bought and sold shares of the stock. Watchman Group Inc. boosted its position in Rave Restaurant Group by 5.6% in the 1st 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 in the last quarter. Militia Capital Partners LP purchased a new stake in Rave Restaurant Group in the 1st quarter worth approximately $30,000. Finally, Evergreen Capital Management LLC purchased a new stake in Rave Restaurant Group in the 2nd quarter worth approximately $56,000. Hedge funds and other institutional investors own 15.12% of the company's stock.

Rave Restaurant Group Company Profile

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.

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