RAVE Restaurant Group, Inc. (NASDAQ:RAVE) is among the top gainers of the stock market today, skyrocketing 12.39% or (0.28 points) to $2.55 from its previous close of $2.27. Does this growth mean it the best stock to buy right now? The shares seem to have an active trading volume day with a reported 204089 contracts so far this session. RAVE shares had a relatively better volume day versus average trading capacity of 47.9 million shares, but with a 13.04 million float and a 25.41% run over a week, it’s definitely worth keeping an eye on. The one year price forecast for RAVE stock indicates that the average analyst price target is $2.5 per share. This means the stock has a potential decrease of -1.96% from where the RAVE share price has been trading recently which is between $1.9867 and $2.27.
The shorts are running away from RAVE Restaurant Group, Inc. (RAVE) stock. The latest set of short interest data was released on 30 April 2019, and the numbers show a drop in short interest in RAVE shares. While short interest still represents only 0.3% of RAVE’s float, the number of shares shorted have fallen by -8080. The number of shares shorted fell to 30433 shares, down from 38513 shares during the preceding fortnight. With average daily trading volumes at 48701 shares, days to cover decreased to about 1 days. The most recent news story about the stock that appeared in Yahoo Finance‘s news section was titled “Pizza Inn Brings Back Triple Cheezy Stuffed Crust” and dated May 14, 2019.
During the recent trading session for RAVE Restaurant Group, Inc. (NASDAQ:RAVE), the company witnessed their stock rise $0.66 over a week and surge $1.03 from the price 20 days ago. When compared to their established 52-week high of $2.67, the high they recorded in their recent session happens to be lower. Their established 52-week high was attained by the company on 05/17/19. The recent low of $0.64 stood for a 12.39% since 12/28/18, a data which is good for most investors who are looking to take advantage of the stock’s recent rise. A beta of 0.59 is also allocated to the stock. Since the beta is less than one, it implies that the stock is more volatile than the market, a data that traders are keeping close attention to.
Looking at the current readings for RAVE Restaurant Group, Inc., the two-week RSI stands at 76.21. This figure suggests that RAVE stock, for now, is oversold, meaning that the shares are not stable in terms of price movement. The stochastic readings, on the other hand, based on the current RAVE readings is similarly very revealing as it has a stochastic reading of 90.54% at this stage. This figure means that RAVE share price today is being oversold.
Technical chart claims that RAVE Restaurant Group, Inc. (RAVE) would settle between $2.36/share to $2.46/share level. However, if the stock price goes below the $2.08 mark, then the market for RAVE Restaurant Group, Inc. becomes much weaker. If that happens, the stock price might even plunge as low as $1.89 for its downside target. The stock is currently in the green zone of MACD, with the indicator reading 0.24. Traders are always alerted for the move of a stock above or below the zero line due to the fact that the reading is an indicator of the position of the short-term average relative to the long-term average. If the MACD is above the zero line, then the short-term average relative is above that of the long-term average, thus implying an upward momentum. Vice versa is the case if the MACD is below the zero line.
Analysts at ROTH Capital lowered their recommendation on shares of RAVE from Buy to Neutral in their opinion released on May 12. ROTH Capital analysts again handed out a Buy recommendation to RAVE Restaurant Group, Inc. (NASDAQ:RAVE) stock but they lifted target price for the shares in a flash note issued to investors on November 13. The target price has been raised from $20 to $14. Analysts at Wunderlich, made their first call for the equity with a Buy recommendation, according to a research note that dated back to June 18.
Moving on, RAVE stock price is currently trading at 0X forward 12-month Consensus EPS estimates, and its P/S ratio is 2.83 while for the average stock in the same group, the multiple is 2.9. RAVE Restaurant Group, Inc. current P/E ratio of 13.24 means it is trading at a discount against its industry’s 59.08. In the past 5 years, this ratio for the stock has been fluctuating between 8.7 and 8.7.