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

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

Rocky Mountain Chocolate Factory Trading Down 2.6 %

Shares of NASDAQ RMCF opened at $2.26 on Wednesday. The business has a 50-day moving average of $3.14 and a 200-day moving average of $3.81. The firm has a market capitalization of $14.31 million, a price-to-earnings ratio of -3.32 and a beta of 1.01. Rocky Mountain Chocolate Factory has a 12 month low of $2.20 and a 12 month high of $5.99.

Institutional Trading of Rocky Mountain Chocolate Factory

A number of hedge funds have recently made changes to their positions in the stock. Salvus Wealth Management LLC purchased a new stake in Rocky Mountain Chocolate Factory during the fourth quarter valued at about $53,000. Leverty Financial Group LLC bought a new position in Rocky Mountain Chocolate Factory during the fourth quarter valued at approximately $54,000. Finally, International Assets Investment Management LLC raised its stake in shares of Rocky Mountain Chocolate Factory by 360.0% during the fourth quarter. International Assets Investment Management LLC now owns 14,260 shares of the company’s stock worth $66,000 after acquiring an additional 11,160 shares in the last quarter. 50.27% of the stock is 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.