Rave Restaurant Group Inc. (RAVE) started the trading day on a down note, making it one of the worst performing stocks in the services sector of NYSE and NASDAQ listed companies shortly after the opening bell on September 23. Shares of RAVE have fallen 15.49% about 30 minutes into the session to $3.25 after closing the day prior at $3.84. It’s early, but the stock has traded as high as $3.66 and as low as $3.1 so far. Today’s quick decline has come with about 144,281 shares changing hands, compared to an average 30-day volume of 43,671 for Rave Restaurant Group Inc.. The price is currently below the 30-day volume weighted average price of $3.47 for RAVE.
The share depreciation gives the company a market capitalization of $39.73 million based upon 10.35 million shares outstanding. It also means that RAVE has a price-to-book ratio of 3.45:1.
In the past 52 weeks, shares of RAVE have traded as low as $3.4 and as high as $9.7. Technical traders will take note that at $3.25, shares of RAVE are trading below their 200-day MA at $4.79 and below their 50-day MA at $3.87. Technical analysts pay close attention to these key moving averages because they often serve as technical support and resistance levels and because a move through or holding below them is typically regarded as bearish.
Who is RAVE?
Rave Restaurant Group Inc operates and franchises pizza buffet, delivery/carry-out and express restaurants domestically and internationally under the trademark Pizza Inn and operates & franchise domestic fast casual restaurants under trademarks Pie Five. The company’s 557 employees are led by CEO Clinton J. Coleman from the corporate headquarters at 3551 Plano Parkway in The Colony, TX.
For more information on RAVE and other companies trading on the major exchanges, as well as the over the counter markets, or to be considered for contributing content for our distribution network, visit FinancialPress.com today.
All data provided by QuoteMedia, with stock data accurate as of 9:30 AM ET. FinancialPress.com is not responsible for inaccuracies in third-party supplied information.
FinancialPress.com is a leading publisher of market and investment news, commentary, proprietary research and videos from seasoned journalists, analysts and contributors covering the financial markets and global economies. Leveraging our extensive distribution network and social media presence, we have cultivated a valuable audience of engaged market enthusiasts, which in turn delivers a variety of unique opportunities for industry partnerships, corporate communications, market exposure and investment. A complete disclaimer can be viewed here. If you like this article, you can read more at FinancialPress.com
DISCLOSURE: The views and opinions expressed in this article are those of the authors, and do not represent the views of FinancialPress.com. Readers should not consider statements made by the author as formal recommendations and should consult their financial advisor before making any investment decisions. To read our full disclosure, please go to: http://financialpress.com/legal-disclaimer/.