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

Research analysts at StockNews.com began 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 Price Performance

NASDAQ RMCF opened at $2.67 on Tuesday. The company has a 50 day simple moving average of $2.38 and a 200-day simple moving average of $2.27. 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 issued its earnings results on Tuesday, October 15th. The company reported ($0.11) earnings per share for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 44.56% and a negative net margin of 17.05%. The firm had revenue of $6.38 million during the quarter.

Insider Activity at Rocky Mountain Chocolate Factory

In related news, major shareholder Global Value Investment Corp. acquired 23,700 shares of the business’s stock in a transaction dated Friday, October 18th. The stock was acquired at an average price of $2.14 per share, with a total value of $50,718.00. Following the completion of the transaction, the insider now owns 1,251,483 shares of the company’s stock, valued at approximately $2,678,173.62. This represents a 1.93 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Jeffrey Richart Geygan acquired 11,935 shares of the firm’s stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $2.60 per share, for a total transaction of $31,031.00. Following the acquisition, the chief executive officer now directly owns 168,719 shares in the company, valued at $438,669.40. This represents a 7.61 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired a total of 424,094 shares of company stock worth $1,137,016 in the last 90 days. 20.80% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Rocky Mountain Chocolate Factory stock. Leverty Financial Group LLC boosted its position in shares of Rocky Mountain Chocolate Factory, Inc. (NASDAQ:RMCF) by 32.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 40,371 shares of the company’s stock after purchasing an additional 9,850 shares during the period. Leverty Financial Group LLC owned about 0.64% of Rocky Mountain Chocolate Factory worth $81,000 at the end of the most recent quarter. 50.27% of the stock is currently 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.