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

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

Rocky Mountain Chocolate Factory Stock Performance

Shares of NASDAQ:RMCF opened at $5.07 on Tuesday. Rocky Mountain Chocolate Factory has a fifty-two week low of $4.77 and a fifty-two week high of $6.98. The company’s 50-day moving average is $5.48 and its 200 day moving average is $5.33. The company has a market capitalization of $31.89 million, a P/E ratio of -4.97 and a beta of 1.00.

Rocky Mountain Chocolate Factory (NASDAQ:RMCF) last released its quarterly earnings results on Thursday, July 13th. The company reported ($0.24) earnings per share for the quarter. Rocky Mountain Chocolate Factory had a negative return on equity of 15.71% and a negative net margin of 20.23%. The firm had revenue of $6.44 million during the quarter.

Insiders Place Their Bets

In other Rocky Mountain Chocolate Factory news, Director Jeffrey Richart Geygan bought 7,217 shares of the business’s stock in a transaction on Monday, August 21st. The shares were acquired at an average cost of $5.26 per share, for a total transaction of $37,961.42. Following the purchase, the director now owns 44,000 shares in the company, valued at approximately $231,440. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Rocky Mountain Chocolate Factory news, major shareholder Global Value Investment Corp. purchased 6,085 shares of the company’s stock in a transaction dated Tuesday, July 18th. The shares were acquired at an average price of $5.47 per share, for a total transaction of $33,284.95. Following the purchase, the insider now directly owns 636,728 shares of the company’s stock, valued at approximately $3,482,902.16. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Jeffrey Richart Geygan bought 7,217 shares of the stock in a transaction that occurred on Monday, August 21st. The shares were bought at an average price of $5.26 per share, for a total transaction of $37,961.42. Following the completion of the transaction, the director now directly owns 44,000 shares of the company’s stock, valued at approximately $231,440. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 88,473 shares of company stock valued at $503,942. 14.87% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Rocky Mountain Chocolate Factory

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. BlackRock Inc. increased its stake in shares of Rocky Mountain Chocolate Factory by 20.2% in the second quarter. BlackRock Inc. now owns 13,005 shares of the company’s stock worth $70,000 after purchasing an additional 2,182 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Rocky Mountain Chocolate Factory by 2.1% during the first quarter. Renaissance Technologies LLC now owns 363,263 shares of the company’s stock valued at $1,925,000 after acquiring an additional 7,300 shares during the period. Finally, Citadel Advisors LLC purchased a new position in shares of Rocky Mountain Chocolate Factory in the third quarter valued at about $62,000. 44.44% of the stock is owned by hedge funds and other 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.