Rocky Mountain Chocolate Factory (NASDAQ:RMCF) Receives New Coverage from Analysts at StockNews.com

StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note issued to investors on Saturday. The firm set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Trading Down 7.3 %

NASDAQ:RMCF opened at $1.65 on Friday. The stock has a market capitalization of $10.46 million, a price-to-earnings ratio of -2.43 and a beta of 1.04. The firm has a fifty day simple moving average of $1.89 and a two-hundred day simple moving average of $2.83. Rocky Mountain Chocolate Factory has a 12 month low of $1.50 and a 12 month high of $5.15.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last issued its quarterly earnings data on Monday, July 15th. The company reported ($0.26) earnings per share (EPS) for the quarter. The business had revenue of $6.41 million for the quarter. Rocky Mountain Chocolate Factory had a negative net margin of 17.93% and a negative return on equity of 44.70%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RMCF. Sanctuary Advisors LLC acquired a new position in shares of Rocky Mountain Chocolate Factory during the second quarter valued at about $43,000. Leverty Financial Group LLC grew its holdings in shares of Rocky Mountain Chocolate Factory by 52.0% during the second quarter. Leverty Financial Group LLC now owns 30,521 shares of the company’s stock valued at $67,000 after buying an additional 10,440 shares during the last quarter. Finally, Salvus Wealth Management LLC grew its holdings in shares of 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 valued at $56,000 after buying an additional 3,865 shares during the last quarter. 50.27% of the stock is currently owned by institutional investors and hedge funds.

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.