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

Equities research analysts at StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research report issued to clients and investors on Tuesday. The firm set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Stock Performance

Shares of NASDAQ:RMCF opened at $2.00 on Tuesday. The business’s 50 day simple moving average is $1.83 and its two-hundred day simple moving average is $2.59. The firm has a market cap of $12.68 million, a P/E ratio of -2.94 and a beta of 1.04. Rocky Mountain Chocolate Factory has a 52-week low of $1.50 and a 52-week high of $5.15.

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

Institutional Trading of Rocky Mountain Chocolate Factory

Several institutional investors and hedge funds have recently modified their holdings of the stock. Salvus Wealth Management LLC raised its stake in shares of Rocky Mountain Chocolate Factory by 33.5% in 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 raised its stake in shares of Rocky Mountain Chocolate Factory by 52.0% in the second quarter. Leverty Financial Group LLC now owns 30,521 shares of the company’s stock worth $67,000 after purchasing an additional 10,440 shares during the last quarter. Finally, Sanctuary Advisors LLC purchased a new stake in shares of Rocky Mountain Chocolate Factory in the second quarter worth approximately $43,000. 50.27% of the stock is owned by hedge funds and other institutional investors.

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.