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

StockNews.com initiated coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a report issued on Sunday. The brokerage issued a hold rating on the stock.

Rocky Mountain Chocolate Factory Price Performance

Shares of RMCF stock opened at $1.80 on Friday. Rocky Mountain Chocolate Factory has a 12-month low of $1.50 and a 12-month high of $5.15. The firm has a fifty day moving average of $1.86 and a 200-day moving average of $2.75.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last announced its earnings results on Monday, July 15th. The company reported ($0.26) earnings per share for the quarter. The company 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%.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Leverty Financial Group LLC boosted its stake in Rocky Mountain Chocolate Factory by 52.0% in the 2nd 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 period. Sanctuary Advisors LLC acquired a new position in Rocky Mountain Chocolate Factory in the 2nd quarter worth $43,000. Finally, Salvus Wealth Management LLC boosted its stake in Rocky Mountain Chocolate Factory by 33.5% in the 1st 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 period. 50.27% of the stock is 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.