Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Coverage Initiated at StockNews.com

StockNews.com started coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a report released on Thursday. The brokerage issued a hold rating on the stock.

Rocky Mountain Chocolate Factory Trading Down 1.6 %

Rocky Mountain Chocolate Factory stock opened at $2.20 on Thursday. The firm has a market capitalization of $13.93 million, a PE ratio of -3.24 and a beta of 1.01. Rocky Mountain Chocolate Factory has a 1-year low of $2.20 and a 1-year high of $5.99. The firm’s 50 day simple moving average is $2.99 and its 200 day simple moving average is $3.73.

Institutional Inflows and Outflows

Institutional investors have recently modified their holdings of the stock. Salvus Wealth Management LLC lifted its stake in Rocky Mountain Chocolate Factory by 33.5% during the first quarter. Salvus Wealth Management LLC now owns 15,395 shares of the company’s stock worth $56,000 after purchasing an additional 3,865 shares during the last quarter. Leverty Financial Group LLC grew its holdings in Rocky Mountain Chocolate Factory by 70.5% in the 1st quarter. Leverty Financial Group LLC now owns 20,081 shares of the company’s stock worth $73,000 after acquiring an additional 8,300 shares during the last quarter. Finally, International Assets Investment Management LLC increased its holdings in Rocky Mountain Chocolate Factory by 360.0% during the 4th quarter. International Assets Investment Management LLC now owns 14,260 shares of the company’s stock valued at $66,000 after purchasing an additional 11,160 shares during the period. 50.27% of the stock is currently owned by institutional investors.

About Rocky Mountain Chocolate Factory

Rocky Mountain Chocolate Factory, Inc, together with its subsidiaries, operates as a confectionery franchisor, manufacturer, and retail operator. It operates through Franchising, Manufacturing, Retail Stores, and Other segments. The company produces approximately 400 chocolate candies and other confectionery products, including clusters, caramels, creams, toffees, mints, and truffles; and offers 15 varieties of caramel apples and other products that are prepared in individual stores, as well as provides ice cream, coffee, and other sundries.