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

StockNews.com started coverage on shares of Rocky Mountain Chocolate Factory (NASDAQ:RMCF) in a research note issued to investors on Tuesday. The firm set a “hold” rating on the stock.

Rocky Mountain Chocolate Factory Trading Down 5.5 %

Rocky Mountain Chocolate Factory stock opened at $2.67 on Tuesday. The business’s 50-day simple moving average is $2.38 and its 200 day simple moving average is $2.27. Rocky Mountain Chocolate Factory has a 12-month low of $1.50 and a 12-month high of $5.15.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its earnings results on Tuesday, October 15th. The company reported ($0.11) EPS for the quarter. The business had revenue of $6.38 million for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 44.56% and a negative net margin of 17.05%.

Insider Buying and Selling

In other Rocky Mountain Chocolate Factory news, major shareholder Global Value Investment Corp. acquired 23,700 shares of the stock in a transaction dated Friday, October 18th. The shares were bought at an average cost of $2.14 per share, for a total transaction of $50,718.00. Following the completion of the acquisition, the insider now directly owns 1,251,483 shares of the company’s stock, valued at approximately $2,678,173.62. This trade represents a 1.93 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jeffrey Richart Geygan acquired 11,935 shares of Rocky Mountain Chocolate Factory stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $2.60 per share, with a total value of $31,031.00. Following the completion of the purchase, the chief executive officer now owns 168,719 shares in the company, valued at approximately $438,669.40. The trade was a 7.61 % increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 424,094 shares of company stock valued at $1,137,016. 20.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Rocky Mountain Chocolate Factory stock. Sanctuary Advisors LLC bought a new position in shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund bought 19,750 shares of the company’s stock, valued at approximately $43,000. Sanctuary Advisors LLC owned about 0.31% of Rocky Mountain Chocolate Factory at the end of the most recent 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.