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

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

Rocky Mountain Chocolate Factory Stock Performance

Shares of Rocky Mountain Chocolate Factory stock opened at $1.98 on Monday. The company’s 50 day moving average price is $1.83 and its 200-day moving average price is $2.64. Rocky Mountain Chocolate Factory has a 52-week low of $1.50 and a 52-week high of $5.15. The stock has a market capitalization of $12.56 million, a price-to-earnings ratio of -2.91 and a beta of 1.04.

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

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

A number of large investors have recently made changes to their positions in RMCF. Sanctuary Advisors LLC bought a new position in shares of Rocky Mountain Chocolate Factory during the second quarter valued at approximately $43,000. Salvus Wealth Management LLC lifted its position in shares of 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. Finally, Leverty Financial Group LLC lifted its position in shares of 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. 50.27% of the stock is currently 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.