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

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

Rocky Mountain Chocolate Factory Price Performance

Rocky Mountain Chocolate Factory stock opened at $2.78 on Friday. Rocky Mountain Chocolate Factory has a fifty-two week low of $1.50 and a fifty-two week high of $5.15. The company’s 50 day simple moving average is $2.65 and its 200 day simple moving average is $2.23.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its earnings results on Tuesday, October 15th. The company reported ($0.11) earnings per share (EPS) 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 for the quarter.

Insiders Place Their Bets

In related news, CEO Jeffrey Richart Geygan bought 11,935 shares of the stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 168,719 shares in the company, valued at $438,669.40. The trade was a 7.61 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Value Investment Corp. purchased 42,063 shares of Rocky Mountain Chocolate Factory stock in a transaction that occurred on Tuesday, October 29th. The shares were bought at an average cost of $2.89 per share, with a total value of $121,562.07. Following the completion of the transaction, the insider now directly owns 1,880,737 shares of the company’s stock, valued at approximately $5,435,329.93. The trade was a 2.29 % increase in their position. The disclosure for this purchase can be found here. Insiders bought a total of 424,094 shares of company stock valued at $1,137,016 in the last quarter. 20.80% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Rocky Mountain Chocolate Factory

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