Rave Restaurant Group Inc. (RAVE) lost ground during morning trading on September 23 to make it one of the worst performers amongst all NYSE and NASDAQ listed stocks in the services sector halfway through the trading day. At the lunch break, shares of RAVE have fallen 14.35% to $3.29 after closing the day prior at $3.84. So far, the stock has traded as high as $3.66 and as low as $3.1. Today’s decline has come with about 322,750 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 $3.35 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 $3.29, 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.
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