Assume the price drop is a reflection of the supposed recession that we aren't in yet. Or the fact that we don't have a CEO.
Just my 2 cents, I'm familiar with about 5-6 DAVE restaurants in the Midwest and by far the least impressive is in Madison WI. Terrible location and snotty college kids with bad attitudes as the wait staff (not all of course, but more than a couple).
Anyway, I drove by on Saturday night and the place was packed. Entire parking lot was full and I think people were parking on the street. Granted it was about 6:00, but I was still surprised by the demand.
In summary, I'm not worried about the recession that hasn't happened and I think this thing has room to triple in the next 3-5 years from these levels.