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Thursday, September 21, 2023

RAVE Restaurant Group Inc. (NASDAQ:RAVE) Stock is Soaring, Here is Why

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The RAVE Restaurant Group Inc. (RAVE) shares are trading at higher $0.85.

To add more color to this target, the company’s high over the last year is $3.21 and the low is $0.52. Over the last 52 weeks, RAVE is down -73.58% while the S&P 500 is up 1.54%. The catalyst for this interesting swing was the company’s recent earnings report.

A Notable Earnings Report

In the last quarter, RAVE reported a profit of $1.74 million. RAVE Restaurant Group Inc. also saw revenues increase to $2.71 million. In addition, RAVE has free cash flow of -$0.86 million as of 03-2020 The company’s EBITDA came in at -$1.06 million which compares well with its peers.

RAVE booked profit margins of -44.40%, its Return on Equity (ROE) is -145.80%, and its Return on Assets is -44.50%. All told, it is clear that, RAVE needs to be on your watchlist.

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Of course, we must look beyond the financials and question how well those numbers represent the sustainable earnings power of the business. Investors need to know how sustainable this current run. RAVE has a short ratio of 0.09 and outstanding shares of 15.13M.

Company Outlook

RAVE has seen increased volume after this news and investors are putting their support behind the value proposition. Furthermore, 10-day volume stands at 0.52 million and more growth is possible in the weeks ahead. Traders will also note the company’s earnings per share came in at -0.34. RAVE Restaurant Group Inc. RAVE also noted assets of $8.97 million at the end of the last quarter. Investors should also keep an eye on sector updates as RAVE has historically followed its peers on positive news.

All told, RAVE Restaurant Group Inc. RAVE has strung together solid data and demonstrated underlying fundamentals. At its current valuation, RAVE represents an interesting risk/reward case. Traders should stay tuned to see if this recent report will push the stock to test recent resistance levels.

RAVE Restaurant Group Inc. RAVE is now commanding a market cap of 13.81M and a float of 13.53M. RAVE is increasing its credibility in this sector and that could lead to more upside down the line. Sign-up for continuing coverage on shares of RAVE stock, as well as other hot stock picks, get our free newsletter today and get our next breakout pick!

Disclosure: we hold no position in RAVE, either long or short, and we have not been compensated for this article.

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