StockNews.com Initiates Coverage on Rocky Mountain Chocolate Factory (NASDAQ:RMCF)

Equities research analysts at StockNews.com started coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note issued on Thursday. The brokerage set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Trading Up 8.2 %

Shares of NASDAQ:RMCF opened at $2.25 on Thursday. Rocky Mountain Chocolate Factory has a fifty-two week low of $1.50 and a fifty-two week high of $5.15. The firm’s 50 day simple moving average is $1.90 and its 200 day simple moving average is $2.47.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its quarterly earnings data on Tuesday, October 15th. The company reported ($0.11) earnings per share for the quarter. The business had revenue of $6.38 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 Investors Weigh In On Rocky Mountain Chocolate Factory

Several institutional investors have recently bought and sold shares of RMCF. Leverty Financial Group LLC lifted its position in shares of Rocky Mountain Chocolate Factory by 32.3% in the third quarter. Leverty Financial Group LLC now owns 40,371 shares of the company’s stock worth $81,000 after purchasing an additional 9,850 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in Rocky Mountain Chocolate Factory in the 2nd quarter valued at $43,000. Finally, Salvus Wealth Management LLC lifted its position in Rocky Mountain Chocolate Factory by 33.5% during the 1st quarter. Salvus Wealth Management LLC now owns 15,395 shares of the company’s stock worth $56,000 after buying an additional 3,865 shares in the last quarter. Institutional investors own 50.27% of the company’s stock.

Rocky Mountain Chocolate Factory Company Profile

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.