Rave Restaurant Group, Inc. (NASDAQ:RAVE) Sees Stock Price Rise – Up $0.06


The company is up by 3.97% percent from yesterday’s close making it one of today’s top gainers. 24,838 shares have been traded.

(NASDAQ:RAVE) news items.

RAVE Restaurant Group, Inc. Completes Shareholder Rights Offering.

The stock is trading at $1.61 which is a tad under the 50 day moving average of $1.69 and quite a bit below the 200 day moving average of $1.96. The 50 day moving average went down by -4.8805% whereas the 200 day moving average was down $-0.35 or -17.8455%.

Short traders are feeling a little more bearish on shares of the company if you put credence in the uptick in short interest. The firm realized a rise in short interest of 15.38% between August 15, 2017 and August 31, 2017. Short interest increased from 356,893 to 411,775 over that timeframe. The days to cover decreased to 3.0 and the percentage of shorted shares is 0.04% as of August 31.

A few notable investment firms have updated their holdings. As of quarter end Blackrock Inc. had sold 17,096 shares trimming its stake by 84.1%. The value of the total investment in Rave Restaurant Group, Inc. decreased from $45,000 to $6,000 a change of 86.7% quarter to quarter. As of the end of the quarter Renaissance Technologies LLC had disposed of a total of 10,100 shares trimming its position 26.6%. The value of the investment in RAVE went from $84,000 to $56,000 a change of $28,000 quarter over quarter.

Morgan Stanley divested its stake by shedding 722 shares a decrease of 72.2% in the quarter. Morgan Stanley now controls 278 shares with a value of $1,000. The total value of its holdings decreased 50.0%. As of the end of the quarter Royal Bank Of Canada had disposed of 152 shares trimming its holdings by 98.1%. The value of the investment in Rave Restaurant Group, Inc. went from $0 to $0 decreasing nan% since the last quarter.

Rave Restaurant Group, Inc., launched on August 26, 2011, operates and franchises pizza buffet, delivery/carry-out and express restaurants domestically and internationally under the trademark, Pizza Inn, and operates and franchises domestic fast casual restaurants under the trademarks Pie Five Pizza Company (Pie Five). The Company has two operating segments, which include Company-owned Restaurants, and Franchising and Food and Supply Distribution. The Franchising and Food and Supply Distribution segment establishes franchisees and franchise territorial rights, and sells and distributes proprietary and non-proprietary food and other items to franchisees. The Company-owned Restaurant segment includes sales and operating results for all Company-owned restaurants. The Company provides or facilitates the procurement and distribution of food, equipment and supplies to domestic and international system of restaurants through Norco Restaurant Services Company (Norco) division and through agreements with third-party distributors..