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

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

Rocky Mountain Chocolate Factory Stock Down 1.7 %

Shares of NASDAQ:RMCF opened at $1.77 on Friday. The company’s fifty day moving average is $1.86 and its 200 day moving average is $2.75. Rocky Mountain Chocolate Factory has a 52 week low of $1.50 and a 52 week high of $5.15. The stock has a market cap of $11.23 million, a PE ratio of -2.57 and a beta of 1.04.

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

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

A number of hedge funds and other institutional investors have recently made changes to their positions in RMCF. Sanctuary Advisors LLC purchased a new stake in shares of Rocky Mountain Chocolate Factory in the 2nd quarter worth about $43,000. Salvus Wealth Management LLC lifted its holdings in 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 buying an additional 3,865 shares during the period. Finally, Leverty Financial Group LLC boosted its position in Rocky Mountain Chocolate Factory by 52.0% during the 2nd quarter. Leverty Financial Group LLC now owns 30,521 shares of the company’s stock valued at $67,000 after acquiring an additional 10,440 shares in the last quarter. Institutional investors own 50.27% of the company’s stock.

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.